The study also indicates improving discretionary spending across various categories: "Our Spring 2012 survey results provide confirmation that we are in the early stages of a clearly defined discretionary spending cycle," said Jeff Klinefelter, director of research and senior research analyst at Piper Jaffray. "Double-digit increases in spending on a sequential and year-over-year basis for both upper- and average-income teens, and similar strength in spending intentions, signal improved confidence in the overall environment and a willingness to spend more broadly on key categories of interest." Facebook is still cited by a plurality (33%) of teens as the most important social network, but that's down 9 percentage points from the fall 2012 level of 42%. Instead, teens give more importance to Twitter and Instagram now than they did six months ago Get the full story at MarketingProfs