The Supreme Court issues a major ruling, limiting the EPA’s authority to regulate power plant emissions. Democrats and Republicans are split. Consumer spending weakens in May. An economist shares his thoughts on the data and why the main figures might not be so bad. North Dakota greenlights a farmland purchase tied to Bill Gates. Why…
LIVE NOW: SCOTUS Limits EPA Reach to Regulate Emissions; Consumer Spending Weakens | NTD Business
SCOTUS Limits EPA Reach to Regulate Emissions; Consumer Spending Weakens | NTD Business
The Supreme Court issues a major ruling, limiting the EPA’s authority to regulate power plant emissions. Democrats and Republicans are split. Consumer spending weakens in May. An economist shares his thoughts on the data and why the main figures might not be so bad. North Dakota greenlights a farmland purchase tied to Bill Gates. Why…
US Consumer Spending in Q1 2022 Revised Sharply Downward, a Bad Sign for the Economy
U.S. consumer spending was down in the first quarter of 2022, according to revised figures from the U.S. Bureau of Economic Analysis (BEA) on June 29, a sign that the economy is showing signs of weakening growth. When adjusted for inflation, consumer spending increased by 0.5 percent in the first quarter, well below the previous estimate…
Weakening Household Finances
June 10, 2022
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Business & MarketsBusiness Columnistsconsumer spendingfinanceshousehold incomeOpinionThinking About China
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Commentary American consumers—the backbone of the post-pandemic recovery—are losing the wherewithal to keep up their spending. Signs were already evident in the uneven pace of spending growth during recent months. Matters have become crystal clear in the income data reported by the Commerce Department. Households are already sacrificing savings flows just to keep up with…
Consumer Confidence Weakens on High Inflation, Rising Rates
May 31, 2022
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Business & Economyconsumer confidenceconsumer spendingeconomyinflationMarketspersonal financeUSUS News
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U.S. consumer confidence fell to a 3-month low in May as soaring prices and rising interest rates fed into a cooling of buying intentions for goods like cars and houses, and as consumers expressed worry about the future pace of inflation. The Conference Board said in a May 31 statement that its Consumer Confidence Index fell…
19 Percent of Americans Have Cut Grocery Spending Due to Inflation: Survey
May 5, 2022
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American Consumer Credit CounselingBusiness & Economyconsumer spendingeconomyhigh inflationhigher food pricesinflationUS
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Americans restricted their spending activities in the first quarter of 2022 amidst a rise in inflation according to American Consumer Credit Counseling (ACCC). Over 93 percent of respondents to ACCC’s first quarter Financial Health Index survey admitted that they were impacted by the rising cost of commodities, an April 25 press release said. While 19…
US Consumer Spending Improved in March, but Inflation Continues to Rise
American consumer spending did better than expected in March, increasing by 1.1 percent amid strong demand for services, according to the Commerce Department on April 29. Economists are hopeful that the signs of positive consumer spending heading into the second quarter will offset fears of a recession, after the economy contracted in the first quarter. Consumers…
Key Inflation Measure Hit 40-Year-High; Consumer Spending Rises Sharply
An inflation measure closely tracked by the Federal Reserve hit a 40-year-high. The Commerce Department’s Personal Consumption Expenditures (PCE) price index increased by 6.6 percent in the 12 months from March last year, the highest annual gain since January 1982, outpacing February’s year over year gain of 6.3 percent. The PCE price index shot up 0.9…
Welcome to ‘Bear Market Stagflation’ and a Crummy Economy
Netflix’s announcement earlier this week that it had lost 200,000 subscribers should sound a warning on the real costs to the economy of continuing high inflation. I suspect Netflix is just a canary in a coal mine; a warning of bad times for us all, not just binge-watching couch potatoes. With Consumer Price Inflation (CPI)…
Mastercard Data Indicates That Consumer Spending Is Holding Steady
A recent report indicates a significant rise in consumer spending over the past year, but the report’s impressive spending figures may lose some of their luster when considered in light of the persistent inflation which has affected the U.S. economy over the same period. New data from MasterCard SpendingPulse indicates that consumer retail spending (excluding…
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