Latest Consumer spending News

An inflation gauge tracked by the Fed slows to still-high 6%

Dec. 01, 2022 09:19 AM EST

WASHINGTON (AP) — A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed's intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday's...

Amazon says it had its biggest Thanksgiving shopping weekend

Nov. 30, 2022 12:00 PM EST

NEW YORK (AP) — Amazon said Wednesday it had its biggest ever Thanksgiving holiday shopping weekend, aided by a record number of consumers looking for deals online amid high inflation. The e-commerce company does not typically share how much it earns during its sales events and...

US revises up last quarter's economic growth to 2.9% rate

Nov. 30, 2022 09:24 AM EST

WASHINGTON (AP) — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter's rise in the U.S. gross domestic product — the...

Cyber Monday deals lure in consumers amid high inflation

Nov. 28, 2022 17:58 PM EST

NEW YORK (AP) — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation. Cyber Monday is expected to remain the year’s biggest online...

This Week: Consumer confidence, consumer spending, jobs data

Nov. 28, 2022 09:13 AM EST

A look at some of the key business events and economic indicators upcoming this week: CONFIDENCE CHECK The Conference Board delivers its latest index of U.S. consumer confidence Tuesday. Economists expect the reading fell in November to 98. That would...

German economy sees stronger growth in 3rd quarter

Nov. 25, 2022 04:08 AM EST

BERLIN (AP) — Germany's economy saw stronger growth in the third quarter than expected as consumer spending picked up following the lifting of pandemic restrictions. Officials figures released Friday show gross domestic product in Europe's biggest economy grew by 0.4% from July to...

Holiday shopping kicks off with inflation dampening spirits

Nov. 24, 2022 10:21 AM EST

NEW YORK (AP) — While Black Friday will mark a return to familiar holiday shopping patterns, uncertainty still remains. The U.S. job market remains strong, consumer spending is resilient and inflation has been slowing. But elevated prices for food, rent, gasoline and other...

Asian benchmarks mostly decline amid lingering China worries

Nov. 16, 2022 22:11 PM EST

TOKYO (AP) — Asian shares mostly declined Thursday amid concerns about the impact of China's “zero-COVID” strategy mixed with hopes for economic activity and tourism returning to normal. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while gaining in Sydney. Oil...

China consumer, factory activity down as virus controls rise

Nov. 15, 2022 00:19 AM EST

BEIJING (AP) — Chinese consumer spending contracted in October and factory activity weakened as anti-virus controls following a rise in infections weighed on the economy. Retail sales sank 0.5% compared with a year ago, down from September’s 2.5% expansion, as millions of people...

China's muted Singles' Day shopping fest expects slow growth

Nov. 11, 2022 01:02 AM EST

HONG KONG (AP) — China’s biggest online shopping festival, known as Singles’ Day, is typically an extravagant affair as Chinese e-commerce firms like Alibaba and JD.com ramp up marketing campaigns and engage top livestreamers to hawk everything from lipstick to furniture as they race to break...