Latest Consumer spending News

Resilient US consumers spend slightly more in August

Sep. 30, 2022 13:14 PM EDT

WASHINGTON (AP) — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as haircuts by 0.4% in August,...

Europe's outlook 'darkening,' ECB head hedges on recession

Sep. 26, 2022 11:52 AM EDT

FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that the economic outlook “is darkening” and she expects business activity to “slow substantially” in the coming months as high energy and food prices pushed up by the war in Ukraine sap consumer spending power. ...

This Week: New home sales, GDP snapshot, consumer spending

Sep. 26, 2022 00:08 AM EDT

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The Commerce Department releases its August tally of new U.S. home sales Tuesday. Economists project that sales slowed again last month to a...

EXPLAINER: How do we know when a recession has begun?

Sep. 21, 2022 16:37 PM EDT

WASHINGTON (AP) — The Federal Reserve sent a sobering message Wednesday after it announced its latest big interest rate hike: It plans to keep raising rates as long as it takes to conquer the worst inflation bout in decades — even at the risk of causing a recession in the process. ...

China's consumer, factory activity improve but still weak

Sep. 16, 2022 02:04 AM EDT

BEIJING (AP) — Chinese consumer spending and factory output edged up in August but still were weak, official data showed Friday, and forecasters warned the second-largest economy is vulnerable to repeated shutdowns of cities to fight virus outbreaks. Housing sales plummeted while...

Retail sales up 0.3% in Aug. from July amid inflation

Sep. 15, 2022 12:37 PM EDT

NEW YORK (AP) — Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food took a toll on family budgets. U.S. retail sales rose an unexpected 0.3% last month after falling 0.4% in July, the Commerce Department...

Hints of cooling prices, but Fed vows firm inflation stance

Aug. 26, 2022 11:30 AM EDT

WASHINGTON (AP) — Inflation eased last month as energy prices tumbled, raising hopes that the surging costs of everything from gasoline to food may have peaked. According to a Commerce Department report Friday that is closely watched by the Federal Reserve, consumer prices rose...

This Week: New home sales, Gap earns, consumer spending

Aug. 22, 2022 03:11 AM EDT

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The Commerce Department releases its July tally of new U.S. home sales Tuesday. Economists project that sales slowed again last month to a...

US retail sales were flat in July as inflation takes a toll

Aug. 17, 2022 10:30 AM EDT

WASHINGTON (AP) — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many Americans to spend more cautiously. Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported...

China cuts interest rate to shore up sagging economy

Aug. 15, 2022 01:37 AM EDT

BEIJING (AP) — China’s central bank trimmed a key interest rate Monday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is trying to extend his hold on power. The decision suggested Beijing is temporarily setting aside worries over...