Can Trump count on American consumers to save the economy from recession?
5 years, 4 months ago

Can Trump count on American consumers to save the economy from recession?

LA Times  

Recent consumer spending has outperformed expectations, compensating for softness in business investments, manufacturing and net exports due largely to President Trump’s trade war with China. Americans have been spending heartily in recent months, outperforming expectations and compensating for the softness in business investments, manufacturing and net exports due largely to Trump’s trade war with China. One closely followed national survey, by the University of Michigan, saw a sharp drop in consumers’ expectations earlier this month, shortly after the Federal Reserve cut interest rates and Trump announced more tariffs on China. Fed rate cuts could help ease recession fears, which have intensified with Trump’s escalation of tariffs and weaker economic data from Europe and China.

Economy China Consumer Trade Spending President Fed Rate American Recent President Trump Consumers Tariffs Trump Powell Federal Reserve  american  save  consumer  trade  rate  china  president  economy  spending  consumers  recession  tariffs  trump  recent  count

History of this topic

Watch What Consumers Do, Not How They Feel
14 hours, 6 minutes ago

Watch What Consumers Do, Not How They Feel

Live Mint  

-- Over the past few years, even as they have been gritting their teeth and complaining about higher prices, consumers have been fueling US economic growth. Consumer spending has been partially driven over the past three years by excess savings accumulated during the pandemic, which reached a peak of $8,000 per adult in August 2021. While the higher interest rates …

China’s weak consumption drags on economy as Trump tariff threat looms
4 weeks, 2 days ago

China’s weak consumption drags on economy as Trump tariff threat looms

CNN  

Beijing Reuters — China’s industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more US trade tariffs under a second Trump administration. “China’s economic policies have been amazingly consistent in promoting manufacturers over consumers despite clear signs of lasting weakness,” said Dan Wang, a …

Americans continue to spend despite naming the economy and inflation as top election concerns
1 month, 4 weeks ago

Americans continue to spend despite naming the economy and inflation as top election concerns

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Americans stepped up their …

What the latest numbers tell us about the economy before the election
2 months, 1 week ago

What the latest numbers tell us about the economy before the election

NPR  

What the latest numbers tell us about the economy before the election This year's presidential campaign has focused heavily on economic issues. NPR's chief economics correspondent, Scott Horsley, joins us. SIMON: Scott, The Economist just had a cover story calling the U.S. economy the envy of the world, but a lot of Americans demonstrably don't seem to feel that way. …

China disinflationary headwinds continue as consumers hold back
8 months ago

China disinflationary headwinds continue as consumers hold back

Live Mint  

BEIJING—China’s consumer prices edged up modestly in April while its factory-gate prices continued to fall, underscoring the challenges that policymakers face in shaking off disinflationary pressures despite stimulus measures aimed at delivering a jolt to the economy. Economists say China’s persistently weak inflation readings suggest Beijing is unlikely to be able to count on the country’s 1.4 billion consumers to …

Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain
8 months ago

Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The lower income consumer in the U.S. is stretched,” …

Recession has struck some of the world’s top economies. The US keeps defying expectations
10 months, 4 weeks ago

Recession has struck some of the world’s top economies. The US keeps defying expectations

Associated Press  

NEW YORK — As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Yet in the United States, the economy motored ahead in last year’s fourth quarter for a sixth straight quarter of growth. It’s blown past many predictions coming into last year that a recession seemed inevitable because of high interest rates meant …

Is the US headed for a recession? Look at what richer Americans do on Black Friday
1 year, 1 month ago

Is the US headed for a recession? Look at what richer Americans do on Black Friday

Live Mint  

The upper middle class powered a spending boom that kept the US out of recession, but there are increasing signs of a slowdown. {{^adFree}} {{/adFree}} In the three months ahead of the all-important holiday shopping season, a group of retailers that cater to the upper middle class — including Apple, Coach and Nordstrom — saw its biggest sales drop in …

US consumers keep spending despite high prices and their own gloomy outlook. Can it last?
1 year, 2 months ago

US consumers keep spending despite high prices and their own gloomy outlook. Can it last?

Associated Press  

WASHINGTON — A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that Americans themselves have expressed in opinion polls. On Thursday, the government said the economy accelerated at a 4.9% …

US economy grows at faster rate in nearly 2 years
1 year, 2 months ago

US economy grows at faster rate in nearly 2 years

Hindustan Times  

The US economy heated up more than expected in the third quarter, government data showed on Thursday, as a resilient job market helped boost consumer spending, holding off the prospect of a recession. The GDP pick up reflects "accelerations in consumer spending, private inventory investment, and federal government spending" among other factors, said the Commerce Department. - "The US economy …

Americans continue to feel better about inflation and the economy
1 year, 5 months ago

Americans continue to feel better about inflation and the economy

CNN  

Washington, DC CNN — US consumers have been feeling a whole lot better this summer as inflation has continued to slow. Consumer sentiment tracked by the University of Michigan rose 11% in July from the prior month, reaching its highest level since October 2021, according to a final reading of the month’s data. “Overall, the sharp rise in sentiment was …

US consumer spending, inflation cool in November
2 years ago

US consumer spending, inflation cool in November

Al Jazeera  

While economic activity is slowing amid rising interest rates, it’s not enough to discourage US Fed from more rises. Slowing economic activity amid rising borrowing costs was also flagged by other data from the Department of Commerce on Friday showing a modest gain in orders for locally manufactured capital goods last month. The personal consumption expenditures price index rose 0.1 …

United States recession fears grow as economy contracts for second quarter
2 years, 5 months ago

United States recession fears grow as economy contracts for second quarter

ABC  

The United States economy has unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, raising speculation the economy is on the cusp of a recession. Key points: Prices for groceries, petrol and other basics increased at the fastest pace since 1981 Job growth averaged 456,700 per month in …

US economy shrank by 1.5% in Q1 but consumers kept spending
2 years, 7 months ago

US economy shrank by 1.5% in Q1 but consumers kept spending

Associated Press  

WASHINGTON — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter. Last quarter’s drop in the U.S. gross domestic product — the broadest gauge of economic output — does not …

The great economic disconnect: Americans say they hate the economy but they act like they love it
3 years, 1 month ago

The great economic disconnect: Americans say they hate the economy but they act like they love it

CNN  

New York CNN Business — The Biden economy is a walking contradiction. Show of confidence: Workers are quitting like never before Of course, it’s important to note that different people are experiencing different things in today’s economy – especially given all the shockwaves set off by Covid. At the same time, a record 4.4 million Americans quit their jobs in …

Americans sour on economy amid inflation woes: AP-NORC Poll
3 years, 2 months ago

Americans sour on economy amid inflation woes: AP-NORC Poll

Associated Press  

SAN FRANCISCO — Americans’ opinions on the U.S. economy have soured noticeably in the past month, a new poll finds, with nearly half expecting economic conditions to worsen in the next year. “It’s not quite as bad as it was back then but I feel like any day we could go off the rails.” AP-NORC poll Roughly half of Americans …

America’s economy is booming, but Republicans are miserable
3 years, 6 months ago

America’s economy is booming, but Republicans are miserable

CNN  

New York CNN Business — Unemployment is shrinking. Even though the US economy is expected to grow this year at the fastest pace in decades, consumer sentiment among self-identified Republicans is worse today than during the height of the pandemic, according to the University of Michigan. Meanwhile, consumer sentiment among self-identified Democrats is higher than at any point during the …

US consumer spending and incomes fall, but rebound is expected
3 years, 9 months ago

US consumer spending and incomes fall, but rebound is expected

Al Jazeera  

Both consumer spending and personal incomes are expected to rebound in March as Americans receive stimulus cheques. Consumers’ spending and personal incomes both fell sharply in February as severe winter storms disrupted shopping in many parts of the United States and as the government wrapped up distribution of $600 relief payments. Consumer spending fell one percent last month, the Commerce …

US consumer spending plunges record 7.5%, reflecting virus
4 years, 8 months ago

US consumer spending plunges record 7.5%, reflecting virus

Associated Press  

WASHINGTON — U.S. consumer spending plunged 7.5% in March, reflecting the growing impact of the coronavirus pandemic as Americans complied with stay-at-home orders. The report said that the country experienced big declines as “consumers canceled, restricted or redirected their spending.” The government reported Wednesday that the overall economy, as measured by the gross domestic product, shrank at an annual rate …

Recession sign: US economy shrinks 4.8 percent in first quarter
4 years, 8 months ago

Recession sign: US economy shrinks 4.8 percent in first quarter

Al Jazeera  

The plunge in first-quarter US GDP will likely pale in comparison to second quarter damage from coronavirus lockdowns. We knew the United States economy had likely taken a significant hit in the first three months of this year as coronavirus lockdowns started sweeping the nation in March. US economic growth as measured by gross domestic product contracted 4.8 percent on …

Drop in US service sector activity raises economic concerns
5 years, 3 months ago

Drop in US service sector activity raises economic concerns

Associated Press  

WASHINGTON — Growth in the U.S. economy’s vast services sector slowed sharply in September to its lowest point in three years, suggesting that the Trump administration’s trade conflicts and rising uncertainty are weakening the bulk of the economy. But with the administration’s tariffs beginning to hit consumer goods from China and Europe, the forces that are hammering manufacturing are threatening …

AP FACT CHECK: Trump glosses over US pain from trade war
5 years, 4 months ago

AP FACT CHECK: Trump glosses over US pain from trade war

Associated Press  

WASHINGTON — President Donald Trump is sticking to his distorted picture of the consequences of his trade war with China, refusing to acknowledge the U.S. is feeling any pain. In a study in May, the Federal Reserve Bank of New York, with Princeton and Columbia universities, estimated that tariffs from Trump’s trade dispute with China were costing $831 per U.S. …

Thanks to consumers, US economy is rising steadily if slowly
5 years, 4 months ago

Thanks to consumers, US economy is rising steadily if slowly

Associated Press  

WASHINGTON — The U.S. economy slowed in the spring, and most analysts expect it to weaken further in the months ahead. The nation’s gross domestic product — the broadest gauge of economic health — grew at a moderate 2% annual rate in the April-June quarter, the Commerce Department reported Thursday. But most think consumer spending will be enough to offset …

74% of economists in survey see US recession by end of 2021
5 years, 4 months ago

74% of economists in survey see US recession by end of 2021

Associated Press  

WASHINGTON — A strong majority, 74%, of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021. The economists surveyed by the National Association for Business Economics, in a report released Monday, mostly didn’t share Trump’s optimistic outlook for the …

Trump dismisses worries of recession, says economy is strong
5 years, 4 months ago

Trump dismisses worries of recession, says economy is strong

Associated Press  

BERKELEY HEIGHTS, N.J. — President Donald Trump dismissed concerns of recession on Sunday and offered an optimistic outlook for the economy after last week’s steep drop in the financial markets. “I don’t think we’re having a recession,” Trump told reporters as he returned to Washington from his New Jersey golf club. “The Federal Reserve chairman should look in the mirror …

Trump Dismisses Recession Fears, Saying Fed Must Help The Economy
5 years, 4 months ago

Trump Dismisses Recession Fears, Saying Fed Must Help The Economy

NPR  

Trump Dismisses Recession Fears, Saying Fed Must Help The Economy Enlarge this image toggle caption Patrick Semansky/AP Patrick Semansky/AP Updated at 4:26 p.m. "Our Economy is very strong," Trump tweeted Monday, accusing Democrats of badmouthing economic conditions to boost their chances in the 2020 election. Politics President Trump Tries To Tamp Down Recession Fears President Trump Tries To Tamp Down …

Donald Trump's 2020 election chances could fall if the US economy slides into recession
5 years, 4 months ago

Donald Trump's 2020 election chances could fall if the US economy slides into recession

ABC  

"It's the economy, stupid." Democratic campaign strategist James Carville smiled and said, "It's the economy, stupid." The trade war with China could cloud consumer confidence But there's another popular US axiom that's worth noting: "Vote one's pocketbook." "We're doing this for the Christmas season, just in case some of the tariffs would have an impact on US customers," Mr Trump …

AP Explains: Is the US economy nearing a recession?
5 years, 5 months ago

AP Explains: Is the US economy nearing a recession?

Associated Press  

WASHINGTON — Financial markets are flashing a key warning sign of a recession, and the global economy is weakening as the U.S.-China trade war intensifies. So when that equation reverses itself — when longer-term Treasurys pay less than shorter-term ones — economists call it an “inverted yield curve.” An inverted curve suggests that bond investors expect growth to slow so …

AP Explains: Is the US economy nearing a recession?
5 years, 5 months ago

AP Explains: Is the US economy nearing a recession?

Associated Press  

WASHINGTON — Financial markets are flashing a key warning sign of a recession, and the global economy is weakening as the U.S.-China trade war intensifies. So when that equation reverses itself — when longer-term Treasurys pay less than shorter-term ones — economists call it an “inverted yield curve.” An inverted curve suggests that bond investors expect growth to slow so …

Trump’s economy: A report card
5 years, 10 months ago

Trump’s economy: A report card

CNN  

CNN — President Donald Trump claims full credit for the strong economy and stock market. The cuts eventually slowed and the US has added jobs every month since October of 2010, the second year of Obama’s first term. It’s hard to compare Trump’s and Obama’s job creation, since Obama took office when the economy was in dire straits and Trump …

The looming spectre of the decline in Chinese consumption
6 years ago

The looming spectre of the decline in Chinese consumption

Hindustan Times  

For most of the past decade, the growing spending power of China’s expanding middle class has fuelled the global economy. If China were to continue on the same trajectory in terms of nominal GDP growth and domestic consumption, its consumer spending could increase by another $2 trillion by 2020, putting it at around half that of the US. Yet China’s …

Apple in China: Problems sound alarm on China economy
6 years ago

Apple in China: Problems sound alarm on China economy

CNN  

Editor’s Note: Arthur Dong is a distinguished teaching professor of strategy & economics at Georgetown’s McDonough School of Business. China’s fourth quarter 2018 purchasing managers’ index data was at 49.4, a clear signal that China’s economy is slowing — anything below 50 signals a slowing economy and dampened prospects for future growth. Consumers are the first to realize the change …

The economy is doing well and Trump deserves some credit
6 years, 5 months ago

The economy is doing well and Trump deserves some credit

CNN  

Washington CNN — President Donald Trump thinks he’s overdue some credit for steering the strongest economy on the planet – and he’s probably right. “These numbers are very, very sustainable – this isn’t a one-time shot,” Trump said on Friday, speaking from the South Lawn of the White House after news that the US economy grew at a 4.1% annual …

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