Latest Consumer spending News

Americans are spending but inflation casts pall over economy

Nov. 24, 2021 18:41 PM EST

WASHINGTON (AP) — Americans are doing the main thing that drives the U.S. economy — spending — but accelerating inflation is casting a pall. A raft of economic data issued Wednesday showed the economy on solid footing, with Americans’ incomes rising and jobless...

US GDP slowed sharply in Q3 but big rebound expected in Q4

Nov. 24, 2021 12:26 PM EST

WASHINGTON (AP) — The U.S. economy slowed to a modest annual rate of 2.1% in the July-September quarter according to the government’s second read of the data, slightly better than its first estimate. But economists are predicting a solid rebound in the current quarter as long as rising...

Consumer spending rebounds a solid 1.3% in October but inflation remained high

Nov. 24, 2021 10:05 AM EST
WASHINGTON (AP) — Consumer spending rebounds a solid 1.3% in October but inflation remained high.

This Week: Home sales, Best Buy earns, consumer spending

Nov. 22, 2021 01:14 AM EST

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BAROMETER The National Association of Realtors reports its October tally of U.S. home sales Monday. Economists predict sales of...

Stocks end mostly lower, but tech gains push Nasdaq higher

Nov. 19, 2021 17:10 PM EST

Wall Street closed out a week of choppy trading with stocks mostly lower Friday, though gains for several tech companies pushed the Nasdaq composite to another record high and its first close over 16,000 points. The S&P 500 index gave up 0.1% a day after setting an...

Rising prices threaten profit margins at food companies

Nov. 18, 2021 09:14 AM EST

Albertsons, Mondelez and Kroger are among a wide range of companies whose profits could be squeezed from rising food prices if inflation keeps running hot. So far grocery stores, restaurants and food producers have passed along much of inflation's impact to consumers, who...

Asian shares slip despite Wall St gains after Biden-Xi talks

Nov. 16, 2021 22:28 PM EST

TOKYO (AP) — Asian shares slipped Wednesday despite a rally on Wall Street. In Japan, the benchmark reversed earlier gains that had come on the yen trading lower recently, boosting the profits of exporters. Japan's benchmark Nikkei 225 fell 0.3% to 29,730.21. South...

Defying inflation, Americans ramped up spending last month

Nov. 16, 2021 13:08 PM EST

WASHINGTON (AP) — Many Americans have taken a darker view of the economy as inflation has worsened. Yet so far, they appear no less willing to spend freely at retailers — an encouraging sign for the crucial holiday shopping season. Buoyed by solid hiring, healthy pay...

Key reason for supply shortages: Americans keep spending

Nov. 15, 2021 11:15 AM EST

DETROIT (AP) — Take a step back from the picked-over store shelves, the stalled container ships and the empty auto showrooms, and you’ll find a root cause of the shortages of just about everything. Even as the pandemic has dragged on, U.S. households flush with cash...

US consumer spending up a modest 0.6% with inflation high

Oct. 29, 2021 13:35 PM EDT

WASHINGTON (AP) — American consumers slowed their spending to a gain of just 0.6% in September, a cautionary sign for an economy that remains in the grip of a pandemic and a prolonged bout of high inflation. At the same time, a key inflation barometer that's closely...