Tag Archives: consumer spending
The economy might not be on the brink of another recession after all. Consumers, who drive most economic growth, spent more on cars, furniture, electronics and other goods in July — and more in May and June than previously thought.
Sour reports Thursday, June 23, on the number of people who sought unemployment benefits and buyers of new homes illustrate what Federal Reserve Chairman Ben Bernanke acknowledged Wednesday: Many factors weighing on the economy are proving to be more chronic than first imagined. Read More
Economists are dialing back their expectations for U.S. economic growth this year. A survey from the National Association for Business Economics predicts GDP will grow 2.8 percent this year — down from the group’s February prediction that it would grow 3.3 percent. Read More
Americans earned a little more and spent a little more in February, thanks to a tax cut. But a big part of the extra money went to cover higher gas prices.
Consumer spending jumped 0.7 percent last month and personal incomes rose 0.3 percent, the Commerce Department said. Both gains reflected a Social Security tax cut, which boosted take-home pay. Still, high gas prices soaked up much of the spending increase. Read More
Rising prices at the gas pump and in grocery aisles are starting to crimp shoppers’ outlook.
The Conference Board’s Consumer Confidence Index fell sharply from a three-year high in February, reversing five straight months of improvement. The decline raises questions about Americans’ ability and willingness to spend in coming months. Read More
Federal Reserve Chairman Ben Bernanke heads to Congress Wednesday, July 21, with a message of reassurance: The Fed stands ready to take new steps to bolster the recovery if the economy worsens.
A tepid gain in consumer spending last month could fuel a debate over whether the United States and other governments should further stimulate their economies to sustain the recovery.
Americans are pulling back on their spending, a trend that could slow the economic recovery if it continues.
A sharp drop in retail sales points to still-wary shoppers and could lead economists to curtail their expectations for growth.
The rebuilding of Americans’ wealth is proceeding in steps rather than strides.
Households’ net worth rose last quarter — the fourth straight quarterly gain. Yet tumbling stock prices have reduced their wealth since then. Some economists say Americans’ net worth may now be down slightly for the year. That helps explain why many say it will 2012 or 2013, at best, before Americans’ wealth will return to its pre-recession levels . . . read more Read More
Consumers spent modestly last month, a sign that the economic recovery is proceeding at a decent — but not spectacular — pace.
The Commerce Department reported Monday that consumers boosted their spending by 0.3 percent in February. That was a tad slower than the 0.4 percent increase registered in January and marked the smallest increase since September. Still, the increase in spending was considered a respectable showing, especially given the snowstorms that slammed the East Coast and kept some people away from the malls. . . . read more Read More
Always helpful for last-minute necessities, convenience stores and chain drug stores offer good deals on a surprising array of other merchandise too.