U.S. consumer spending stalled in May to the lowest growth rate this year as inflation remained elevated. Consumer spending or personal consumption expenditures (PCE) only rose by 0.1 percent in May, according to a June 30 news release (pdf) by the U.S. Bureau of Economic Analysis (BEA). This is the lowest growth rate so far…
Consumer Spending Grows by Just 0.1 Percent in May, Inflation Remains High
UK Economic Growth in April Driven by Consumer Spending: ONS
The UK economy rebounded in April, following weaker performance in March, official figures have shown. Britain’s GDP increased by 0.2 percent, marking growth after the 0.3 percent contraction in March. The Office of National Statistics (ONS) reported that increased consumer spending was one of the factors causing the rise. Wholesale and retail trade, car and…
Robust Consumer Spending Could Be Bad News for Inflation
American consumers are proving to be more resilient than many market experts had expected in the tough economic climate, and this strength in spending is fueling the reacceleration in inflation. This might not, however, be good news for consumers or the Federal Reserve. In April, the Fed’s preferred inflation gauge—the Personal Consumption Expenditures (PCE) price…
Vote With Your Wallet!
Commentary In graduate school, I encountered the disturbing theory that your vote doesn’t actually count for much. We have a winner-take-all system of voting in this country. That means that one vote for x is always canceled out by a vote for y. So a husband and wife who disagree might as well stay home….
Retail Sales Come in Below Expectations After 2 Months of Declines
U.S. retail sales rose slightly in April but fell below expectations after two months of declines. Retail sales are primarily goods and are not adjusted for inflation, while changes in the category are widely followed as an indicator of consumer spending. Last month’s overall retail sales rose 0.4 percent last month at $686.1 billion, instead…
ANALYSIS: After a Strong Opening, China’s Economy Begins to Falter
May 16, 2023
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ChinaChina Business & EconomyChina Newsconsumer spendingeconomyexportimportOpinionThinking About China
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News analysis Not even a month ago, reports of a first-quarter consumer-spending surge created much enthusiasm about China’s return to economic strength. News that this spending had pushed China’s real gross domestic product (GDP) well ahead of consensus expectations renewed talk that China would surpass the United States as the world’s largest economy. Even then,…
Consumer Spending Is Not The Cause of the Current Inflation
Commentary In the United States, consumer spending is increasing not from a rise in income but from a rise in consumer debt. Last November, consumer spending financed by new debt rose at an annual rate of 7.1 percent, which exceeds the 4.8 percent annual growth in average hourly earnings for the month. With wage increases…
Americans’ Spending Expectations Fall Sharply in Warning Sign for Economy
Americans are planning to spend less in the near term, according to a December survey from the Federal Reserve Bank of New York, which showed U.S. household spending growth expectations taking a sharp tumble in what could be a warning sign for the economy. Household spending growth expectations over the next 12 months fell by…
Americans’ Spending Expectations Fall Sharply in Warning Sign for Economy: New York Fed
Americans are planning to spend less in the near term, according to a December survey from the Federal Reserve Bank of New York, which showed U.S. household spending growth expectations taking a sharp tumble in what could be a warning sign for the economy. Household spending growth expectations over the next 12 months fell by…
American Consumer Sentiment Plunges While Inflation Expectations Rise
November 12, 2022
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Business & Marketsconsumer sentimentconsumer sentiment indexconsumer spendingconsumer surveyeconomyhigh inflationinflationUS
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Consumer sentiment fell last month while expectations of inflation among the general populace rose, according to a University of Michigan survey that is closely followed by the Federal Reserve. The Index of Consumer Sentiment came in at 54.7 in November, down 8.7 percent from 59.9 in October, data from the surveys of consumers conducted by…
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