One-in-three Canadians say they are in rough financial shape, and two-in-five are dipping into their savings to get by, according to a recent survey by the Angus Reid Institute. “More than a year into a stubborn and persistent cost-of-living crisis, a considerable number of Canadians have progressed from belt-tightening on spending to drawing on existing…
1 in 3 Canadians Report Being in ‘Bad’ or ‘Terrible’ Financial Shape: Survey
Americans’ Spending Expectations Plummet, Fresh Warning Sign for the Economy
October 12, 2022
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Business & Marketsconsumer sentimentconsumer spendingeconomic recessioneconomyhigh inflationhousehold spendinginflationpersonal financerecessionUS
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Household spending expectations have fallen in the month of August amid elevated inflation rates, signaling potentially bad days ahead for the American economy. “Median household spending growth expectations fell sharply to 6.0 percent from 7.8 percent in August, its steepest one-month decline since the series’ inception in June 2013, and its lowest reading since January…
Americans’ Household Wealth Falls by Record $6.1 Trillion
September 12, 2022
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Business & Marketseconomic recessioneconomyhigh inflationHousehold debt ratiohousehold spendinghousehold wealthMarketspersonal financerecessionUS
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The net worth of American households dropped by $6.1 trillion in the second quarter of 2022, triggered by a decline in the stock market, according to a latest report by the Federal Reserve. Total net worth of households and nonprofit organizations at the end of the second quarter was at $143.8 trillion, according to the…
Australian Residential Homes Surpass $10 Trillion in Total Value
The total value of 10.8 million Australian residential homes has broken the $10 trillion (US$6.95 trillion) mark for the first time in the March quarter. New data from the Australian Bureau of Statistics (ABS) indicated that the national dwelling value increased by $221.2 billion to $10.2 trillion during the period. In addition, ABS head of…
Inflation and Household Spending Expectations in the US Remain High: Fed Survey
May 10, 2022
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Business & Economyconsumer expectationseconomyFederal Reservehigh inflationhousehold spendinginflationUS
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Consumer expectations regarding inflation and household spending remained at elevated levels in April 2022 according to a recent survey by the Federal Reserve Bank of New York’s Center for Microeconomic Data. “Median inflation expectations decreased in April at the one-year horizon to 6.3 percent from 6.6 percent in March. In contrast, median three-year-ahead inflation expectations…
Could You Go a Year Without Spending?
A few years back, Eric and Donna Reed shopped for groceries and household products just once for an entire year. How on Earth? I know. That was my reaction, too. The Reeds got the idea after reading a column in USA Today wherein the writer confessed to his weakness when it came to buying clothes….
Japan’s August Household Spending Seen Falling on Pandemic Hit: Reuters Poll
TOKYO—Japan’s household spending likely slipped back into contraction in August, when the government expanded emergency curbs to contain the coronavirus, a Reuters poll showed on Friday. The government this week ended a state of emergency it had imposed to combat the pandemic, as the number of new cases and deaths has come down rapidly in…
Lockdown Impact on Card Spending Muted in NSW Compared to Victoria
July 7, 2021
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AustraliaCommonwealth Bank of AustraliaCOVID restrictionshousehold spendinglockdownSydney LockdownsVictoria lockdownwestpacWorld
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The recent lockdown restrictions in New South Wales (NSW) have had a lower impact on spending activity in the state compared to the recent Victorian hard lockdowns. Both Commonwealth Bank and Westpac Bank data revealed that overall household card activity had not made any significant drops in NSW after the first week of restrictions. Commonwealth…
‘Unique Nature’ of Pandemic Economic Downturn Behind the Strength of Australia’s Recovery: RBA
June 2, 2021
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AustraliaAustralian Bureau of StatisticsAustralian economyhousehold savingshousehold spendingInternationalReserve Bank of AustraliaWorld
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The Reserve Bank of Australia hs said the recovery from the current economic downturn will be significantly different to the recovery from past economic shocks such as the Global Financial Crisis and the Great Depression. RBA Head of Economic Analysis Brad Jones said in a keynote address at the Minerals Week Australia-Asia Investment Outlook that…
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