Yorkston Oakmont Claim Consumers are Spending Despite Reports of Stagnant US Economy

    HOUSTON, TX, May 23, 2013 /24-7PressRelease/ -- USA Today conducted a survey of 43 top economists at the beginning of May which indicates the US economy will grow this year, although federal spending cuts are expected to slow growth in the middle of the year. The forecasts expect business investment to increase towards the end of 2013. However, Quarter 1 is expected to be the peak of consumer spending which will drop throughout the next three quarters of 2013. "We are optimistic about the year ahead, despite the reports of slowing consumer spending," says Antoine Bell, CEO at Yorkston Oakmont. "The forecasts have been proven wrong before, for instance March was expected to be a stagnant month whereas in fact consumer spending increased by 0.2%. Our experience at Yorkston Oakmont has been that sales and customer acquisitions rates have grown month on month. Despite the predictions of consumer spending falling after Quarter 1 our sales in April saw the biggest surge to date."

Yorkston Oakmont is outsourced by national clients in the energy, non-profit and telecoms industries to promote their services to the public. The firm is centred in Houston and has a further 7 regional divisions, the most recent having opened in Baltimore, Maryland late last year. As the majority of campaigns involve business-to-consumer marketing and sales, consumer spending is integral to their success. The firm disputes claims that March's unexpected increase in spending was entirely due to increased energy consumption during the unseasonably cold weather. "Certainly the energy consumption can account for some, but not all of the growth. The consumer spending patterns we observed throughout our campaigns demonstrated an increase across all clients and markets, which we believe shows a return of consumer confidence. Factors like the increase in house prices may be a contributing factor - the more secure consumers feel, the more likely they are to spend," said Yorkston Oakmont CEO Antoine Bell.

The BBC reports that consumer spending accounts for 70% of US economic activity. In addition to growth in March spending also rose by 0.3% in January and 0.7% in February. The April GDP release confirmed that consumer spending had grown by its fastest rate in more than two years during the first quarter of 2013. Yorkston Oakmont considers the news a source of optimism for US businesses. "I think now is the time for US businesses to really focus on their sales and marketing strategies in order to make the most of the next two quarters of 2013," advises CEO Antoine Bell.

Yorkston Oakmont provides results-driven sales and marketing strategies for blue chip companies. The firm has signed two new clients since January and aims to expand further throughout 2013.

Sources:
http://www.usatoday.com/story/money/business/2013/05/12/usa-todaysecond-quarter-economic-survey/2150719/
http://www.bbc.co.uk/news/business-22339995

Yorkston Oakmont is an outsourced sales and marketing firm sought out by national clients in the energy, non-profit and telecoms industries to promote their services to the public.

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