Bet you have never heard of the Local Consumer Commerce (LCC) Index. It is going down and that is worrying.
I have never heard of the Local Consumer Commerce (LCC) index. It is created from over 19 billion credit and debit card transactions from over 59 million consumers in 15 major metropolitan areas in the US.
The index captures year-over-year growth in everyday spending across a range of consumer and merchant groups. The transaction-level data includes the zip codes of both the consumer and merchant so that it can identify local, place-based spending growth (i.e. how much money people are spending within their city of residence).