U.S. retail sales fell more than expected in July, dragged down chiefly by weak buying of automobiles as chip shortages continued to squeeze supplies. Retail and food services sales fell 1.1 percent in July, following a revised 0.7 percent gain in June and a 1.7 percent drop in May, according to an advance estimate from…
Trucks, Guns, and Computers: Americans Spending Priorities Shift in Past Year
Americans have redirected more than a trillion dollars into purchases of trucks, computers, guns, and ammunition in the past year or so, consumer spending data indicates. This money is on top of what people were spending before the onset of the CCP (Chinese Communist party) virus pandemic. To some degree, the sum reflects increased prices…
Mall Traffic Surges as Incomes Rise and Americans Go on Shopping Spree
Shoppers returned to malls in droves in March, boosted by a sharp rise in personal income and a strong boost in consumer spending, reinforcing the view that a recovery in the pandemic-stricken retail sector is building steam. Foot traffic at a sample of 50 malls in March was up 86 percent from the same month…
UK Consumer Spending Plunges as New Lockdown Bites: Barclaycard
LONDON—Spending by British consumers plunged in January at the fastest rate in seven months as the country went back into a tight COVID-19 lockdown, payment card firm Barclaycard said on Tuesday. A 73 percent annual increase in online retail spending and record demand for takeaway food—which jumped by a third from a year ago—failed to…
US Consumer Credit Rose a Solid $9.7 Billion in December
U.S. consumers increased their borrowing in December by $9.7 billion, as Americans took out loans to buy autos or finance their educations.
US Consumer Credit Rose by $9.7 Billion in December
U.S. consumers increased their borrowing in December by $9.7 billion, as Americans took out loans to buy autos or finance their educations.
US Consumer Spending Decreases Further; Inflation Creeping Up
WASHINGTON—U.S. consumer spending fell for a second straight month in December amid renewed business restrictions to slow the spread of COVID-19 and a temporary expiration of government-funded benefits for millions of unemployed Americans. The report from the Commerce Department on Friday also showed inflation steadily rising last month. Expectations that inflation would perk up this…
US Consumer Spending Slumps Further; Inflation Creeping Higher
WASHINGTON—U.S. consumer spending fell for a second straight month in December amid renewed business restrictions to slow the spread of COVID-19 and a temporary expiration of government-funded benefits for millions of unemployed Americans. The report from the Commerce Department on Jan. 29 also showed inflation steadily rising in December. Expectations that inflation would perk up…
US Third-Quarter GDP Growth Revised Slightly Higher; Momentum Waning
December 22, 2020
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WASHINGTON—The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief, the government confirmed on Dec. 22, but appears to have lost momentum as the year draws to an end amid raging new COVID-19 cases and dwindling fiscal stimulus. The economy plunged into recession in…
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