Latest Consumer spending News

Passers-by examine a storefront window, Tuesday, Sept. 15, 2020, in Boston's fashionable Newbury Street shopping district.  The U.S. Commerce Department said Wednesday that retail sales rose 0.6% last month, the fourth straight month of growth.   (AP Photo/Steven Senne)

Retail sales rise for 4th straight month as growth slows

Sep. 16, 2020 10:08 AM EDT

NEW YORK (AP) — Americans kept spending in August, but the pace of that growth is slowing as millions of people who lost jobs have now lost a $600 a week boost in their unemployment checks. Retail sales rose 0.6% last month, the fourth consecutive month of growth, the U.S. Commerce Department said...

FILE - In this May 3, 2017, file photo, a farmer gathers grass for livestock in Hirado, Nagasaki Prefecture, southwestern Japan. Among the challenges awaiting newly appointed Japanese Prime Minister Yoshihide Suga is the urgent challenge of how to keep the world’s third-largest economy growing as its population ages and shrinks. (AP Photo/Eugene Hoshiko, File)

End of Abe era leaves Japan still searching for way forward

Sep. 16, 2020 9:31 AM EDT

MITO, Japan (AP) — Among the challenges awaiting newly appointed Japanese Prime Minister Yoshihide Suga is the urgent challenge of how to keep the world’s third largest economy growing as its population ages and shrinks. Yoshihide Suga, Abe’s former chief spokesman, was appointed prime...

FILE - In this July 18, 2012, file photo, credit logos are displayed on a downtown storefront as a pedestrian passes in Atlanta.  U.S. consumer borrowing rose by a solid 3.6% in July, the second monthly gain after the coronavirus pandemic had sent consumer borrowing down sharply in the previous three months, the Federal Reserve reported Tuesday, Sept. 8, 2020. (AP Photo/Ashley Hopkinson, File)

Consumer borrowing follows June gain with 3.6% rise in July

Sep. 8, 2020 4:17 PM EDT

WASHINGTON (AP) — U.S. consumer borrowing rose by a solid 3.6% in July, the second monthly gain after the coronavrius pandemic had sent borrowing down sharply in the previous three months. The Federal Reserve reported Tuesday that the 3.6% increase in July, which represented a $12.2 billion advance,...

Italian economy shrank 12.8% in Q2, more than first thought

Aug. 31, 2020 6:07 AM EDT

ROME (AP) — The Italian economy shrank by more than previously thought during the second quarter as a result of lockdown restrictions imposed to curb the coronavirus pandemic, official figures showed Monday. The national statistics bureau ISTAT said the economy contracted by quarterly rate of 12.8% during...

FILE - In this July 21, 2020 file photo, people walk by the New York Stock Exchange. Stocks keep ticking higher on Wall Street, and more gains for the S&P 500 Friday morning, Aug. 28 have it on pace to close out its fifth straight winning week. (AP Photo/Mark Lennihan, File)

S&P 500 rises to close out longest weekly win streak of 2020

Aug. 28, 2020 4:35 PM EDT

NEW YORK (AP) — The gains keep piling up on Wall Street, and the S&P 500 rallied again on Friday to close out its fifth straight winning week. The benchmark index rose 23.46, or 0.7%, to 3,508.01, setting another record high and several more superlatives. It was the seventh straight day of gains for...

FILE - In this Aug. 11, 2020 file photo, shoppers walk through the Valley Mall in Halfway, Md.  U.S. consumer confidence fell for second straight month in August as a resurgence of virus cases in many parts of the country heightened pessimism about the economy. (Colleen McGrath/The Herald-Mail via AP, File)

US consumer spending rose a moderate 1.9% in July

Aug. 28, 2020 10:33 AM EDT

WASHINGTON (AP) — U.S. consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from the grip of a pandemic that has held back a recovery and kept roughly 27 million people jobless. The July gain marked the third straight monthly increase in consumer...

US consumer spending rose 1.9% in July, a slowdown from previous 2 months as pandemic still weighs on economy

Aug. 28, 2020 8:35 AM EDT
WASHINGTON (AP) — US consumer spending rose 1.9% in July, a slowdown from previous 2 months as pandemic still weighs on economy.
FILE - In this April 30 ,2020 file photo, a barber shop shows closed and hiring sign during the COVID-19 in Chicago.  On Thursday, Aug. 27, just over 1 million Americans applied for unemployment benefits last week, a sign that the coronavirus outbreak continues to threaten jobs even as the housing market, auto sales and other segments of the economy rebound from a springtime collapse. (AP Photo/Nam Y. Huh, File)

As virus rages, US economy struggles to sustain a recovery

Aug. 27, 2020 4:10 PM EDT

WASHINGTON (AP) — Home sales are booming. Stocks are setting record highs. Industrial production is clambering out of the ditch it fell into early this year. And yet the U.S. economy is nowhere close to regaining the health it achieved, with low unemployment, free-spending consumers and booming travel,...

FILE - In this Aug. 11, 2020 file photo, shoppers walk through the Valley Mall in Halfway, Md.  U.S. consumer confidence fell for second straight month in August as a resurgence of virus cases in many parts of the country heightened pessimism about the economy. (Colleen McGrath/The Herald-Mail via AP, File)

US consumer confidence falls in August to lowest in 6 years

Aug. 25, 2020 10:58 AM EDT

WASHINGTON (AP) — U.S. consumer confidence fell for the second consecutive month, sinking to the lowest levels in more than six years as a resurgence of COVID-19 infections in many parts of the country heightened pessimism. The Conference Board, a New York research organization, reported Tuesday that its...

Michigan's budget outlook is not as bad as expected

Aug. 24, 2020 6:55 PM EDT

LANSING, Mich. (AP) — Michigan's budget outlook is not as bad as was thought — thanks to federal pandemic relief aid, higher consumer spending and tax payments than expected, and a quicker recovery by the manufacturing and auto industries, officials said Monday. In May, Gov. Gretchen Whitmer's...