UK retail sales fell in March as businesses blame poor weather for discouraging people from heading to the shops. According to the latest data released by the Office for National Statistics (ONS), retail sales volumes dropped by 0.9 percent last month, with clothes shops, department stores, and garden centres all reporting declines. The decline—which came…

Confidence about the state of the American economy has fallen among U.S. consumers, while expectations about the future remain at a level indicating an upcoming recession, according to a survey by The Conference Board, a nonprofit research group. The Conference Board’s Consumer Confidence Index fell for the second consecutive month in February, to 102.9, down…

U.S. Wholesale prices rose 0.7 percent over the same month last year, seasonally adjusted, the largest increase since March 2022. Experts see the increase as an indication that the inflation hampering the U.S. economy for more than 18 months will continue into 2023. The Bureau of Labor Statistics (BLS) released the Producer Price Index (PPI)…

Consumer confidence in the American housing market plunged to record low last month, according to a new survey. Growing mortgage rates, higher home prices, and economic instability have led to increased pessimism in the housing market nationwide. Only 16 percent of consumers surveyed said that they would consider buying a home in October, according to…

U.S. consumer confidence started to decline again in October, after witnessing two continuous months of strong growth. High inflation rates, caused by years of low borrowing rates and persistent supply shortages, are beginning to take a toll on American consumers, as the economy is in the midst of a recession. The Conference Board’s Consumer Confidence…

The UK is not currently in recession despite earlier predictions to the contrary, but the economy has continued to slow, according to newly released official data. The Office for National Statistics (ONS) said on Sept. 30 that the UK’s GDP grew by 0.2 percent over the three months to June, after revising a previously estimated…

Nearly half of UK adults are finding it hard to pay their energy bills, new figures suggest. According to the Office for National Statistics (ONS), 48 percent of British adults surveyed between Aug. 31 and Sept. 11 said they were finding it “very or somewhat difficult” to afford their energy costs. It represents an increase…

Australian consumer confidence has bounced back strongly from record lows in previous weeks as more Australians hold a positive view of the jobs market and the economy’s strength. The ANZ-Roy Morgan survey indicated that the consumer confidence index jumped 4.9 percent in the week commencing Aug. 8, the most significant rise in 16 months. At…

Australian household spending continued to grow strongly as the price index jumped by 3.3 percent in June, up 10.2 percent compared to the same period last year. According to the Australian Bureau of Statistics (ABS), June’s figures marked the 16th consecutive month of increase in total household spending. “Spending categories most impacted from COVID-19 responses…

American consumer confidence for July, hit its lowest level since February 2021, as deep concerns over higher inflation and rising interest rates, suggest poor economic growth in the early part of the third quarter. The Conference Board released its July 26 Consumer Confidence Index, which reflects current business conditions and potential developments for the months ahead….