Latest Consumer spending News

China's Alibaba, JD report booming Singles Day sales

Nov. 11, 2019 7:46 PM EST

BEIJING (AP) — Chinese e-commerce giants Alibaba and JD.com reported nearly $70 billion in sales Monday on Singles Day, an annual marketing event that is the world's busiest online shopping day. The day was a temporary relief to retailers that face fading demand as Chinese consumers tighten their belts,...

Consumer borrowing rises, led by more auto and student loans

Nov. 7, 2019 5:09 PM EST

WASHINGTON (AP) — Consumer borrowing rose in September at a modest pace, driven by more student and auto loans, though a category that mostly includes credit cards fell for the second straight month. The Federal Reserve said Thursday that overall consumer borrowing increased 2.8% to $4.15 trillion. A...

Macron's China visit underscores economic tensions

Nov. 4, 2019 10:52 AM EST

BEIJING (AP) — With major economies locked in disputes over trade, France's president started a visit to China by announcing that the EU had struck a deal with the country to better protect agricultural products like wine and cheese from counterfeiting. Emmanuel Macron's visit is timed to ease some of the...

US consumer spending rises 0.2% in September

Oct. 31, 2019 10:21 AM EDT

WASHINGTON (AP) — American consumers modestly stepped up their spending in September, but their incomes grew fast enough to let them save more, too. The Commerce Department said Thursday that consumer spending rose 0.2% last month, matching August's increase but coming in slightly below economists'...

US consumer spending ticks up 0.2% in September; savings rate hits 6-month high

Oct. 31, 2019 10:16 AM EDT
WASHINGTON (AP) — US consumer spending ticks up 0.2% in September; savings rate hits 6-month high.

Fed cuts rates for a 3rd time but signals it will now pause

Oct. 30, 2019 5:53 PM EDT

WASHINGTON (AP) — The Federal Reserve cut short-term interest rates Wednesday for a third time this year to try to support the economy. But it signaled that it plans no further cuts unless it sees clear evidence that the economic outlook has worsened. For now, Chairman Jerome Powell sounded a bullish note...

US economy grows at modest 1.9% rate in third quarter

Oct. 30, 2019 4:43 PM EDT

WASHINGTON (AP) — The U.S. economy slowed to a modest growth rate of 1.9% in the summer as consumer spending downshifted and businesses continued to trim their investments in response to trade war uncertainty and a weakening global economy. The Commerce Department reported Wednesday that the July-September...

US consumer confidence falls for third consecutive month

Oct. 29, 2019 11:19 AM EDT

WASHINGTON (AP) — U.S. consumer confidence has fallen for a third consecutive month as optimism about job prospects and business conditions down the road grow weaker. The Conference Board said Tuesday that its consumer confidence index edged down to 125.9 in October, compared with 126.3 in September....

China's economic slowdown deepens, weighing on global growth

Oct. 18, 2019 11:05 AM EDT

BEIJING (AP) — China's economic growth sank to a new multi-decade low in the latest quarter as a trade war with the U.S. deepened a slump that is weighing on the global economy. Growth in the world's second-largest economy slipped to 6% in the three months ending in September, down from the previous...

Asian shares mixed on caution over China-US trade deal

Oct. 17, 2019 1:01 AM EDT

BANGKOK (AP) — Asian shares were mixed Thursday after officials signaled work remains to be done on an agreement for a truce in the tariff war between the U.S. and China. Hong Kong led regional gains after its chief executive, Carrie Lam, announced help for the property sector. The semi-autonomous city's...