Latest Consumer spending News

US economy grew 5.7% in 2021 in rebound from 2020 recession

Jan. 27, 2022 10:46 AM EST

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and services —...

Asian shares decline amid omicron, Fed, Ukraine jitters

Jan. 24, 2022 22:05 PM EST

TOKYO (AP) — Asian shares skidded Tuesday following a volatile day on Wall Street. Inflation-fighting measures from the Federal Reserve and the possibility of conflict between Russia and Ukraine are overhanging markets. Japan's benchmark Nikkei 225 slipped 2.0% in morning trading...

Rising inflation tightens squeeze on consumers

Jan. 20, 2022 10:26 AM EST

Retail sales took an unexpected dip in December in what could be a signal that persistently rising inflation is prompting a pullback in consumer spending. Consumers paid more for everything from groceries to cars in 2021 as companies passed along the costs of pricier raw materials...

China's economy grows 8.1% in 2021, slows in second half

Jan. 17, 2022 05:53 AM EST

BEIJING (AP) — Chinese leaders are under pressure to boost slumping economic growth while they try to contain coronavirus outbreaks ahead of next month's Winter Olympics in Beijing. The world's second-largest economy grew by 8.1% last year, but activity fell abruptly in the second...

Michigan revenues are $5.8B higher than previously forecast

Jan. 14, 2022 17:46 PM EST

LANSING, Mich. (AP) — Michigan's two main funds will take in billions more that previously forecast, economists said Friday, again delivering good news to Gov. Gretchen Whitmer and lawmakers before a budget cycle. The combined additional tax revenues over the last, current and next...

December retail sales slip after a record holiday season

Jan. 14, 2022 13:15 PM EST

NEW YORK (AP) — Americans overlooked shortages, spiking prices and uncertainty over the omicron variant to break spending records during the critical holiday shopping season. But figures released Friday show that after spending robustly early in the holiday season, consumers sharply slowed their...

Consumer prices up 5.7% over past year, fastest in 39 years

Dec. 23, 2021 09:58 AM EST

WASHINGTON (AP) — U.S. consumer prices rose 5.7% over the past year, the fastest pace in 39 years, as a surge in inflation confronts Americans with the holiday shopping season under way. The November increase, reported Thursday by the Commerce Department, followed a 5.1% rise for...

US consumer prices rose 5.7% over past 12 months, fastest gain in 39 years, while consumer spending up 0.6% in November

Dec. 23, 2021 08:40 AM EST
WASHINGTON (AP) — US consumer prices rose 5.7% over past 12 months, fastest gain in 39 years, while consumer spending up 0.6% in November.

US economy grew at 2.3% rate in Q3, up from earlier estimate

Dec. 22, 2021 18:25 PM EST

WASHINGTON (AP) — The U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought, the Commerce Department said Wednesday. But prospects for a solid rebound going forward are being clouded by the rapid spread of the latest variant of the coronavirus. ...

US consumer confidence rises despite omicron, higher prices

Dec. 22, 2021 12:47 PM EST

WASHINGTON (AP) — U.S. consumer confidence rose this month as Americans shrugged off concerns about rising prices and COVID'-19's highly contagious omicron variant. The Conference Board, a business research group, said Wednesday that its consumer confidence index — which takes...