Americans could be on a tight budget this summer
9 months, 1 week ago

Americans could be on a tight budget this summer

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. That’s a contrast to last year when Americans shelled out on the “Barbenheimer” phenomenon, Taylor Swift and Beyoncé concert tickets and getaways. “Consumers are tightening their belts another notch as they hunt for discounts, and even some essentials are being impacted,” said Duleep Rodrigo, KPMG’s US consumer and retail sector leader, in a release. Slowing consumer spending should help cool the economy and help the Federal Reserve cut interest rates sooner rather than later, as long as inflation also edges closer to the central bank’s 2% goal. The Henley Private Wealth Migration report found that 128,000 millionaires are set to relocate this year, beating last year’s record by 8,000.

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History of this topic

Americans are expected to splurge on travel this summer — again
10 months ago

Americans are expected to splurge on travel this summer — again

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, senior vice president at AAA Travel, said in a release. In a virtual presentation to reporters, the bank’s analysts said the outlook for leisure spending this summer looks promising, based …

Inflation isn’t keeping Americans from having fun this Memorial Day weekend
10 months ago

Inflation isn’t keeping Americans from having fun this Memorial Day weekend

CNN  

New York CNN — Americans may be sick and tired of dealing with high prices across pretty much every aspect of their lives, but inflation hasn’t yet squashed the travel bug. “Demand continues to be strong, and we see a record spring and summer travel season,” said Delta Air Lines CEO Ed Bastian during a call with analysts last month. …

Americans bump up spending in June as inflation eases in a strong jobs market
1 year, 8 months ago

Americans bump up spending in June as inflation eases in a strong jobs market

Associated Press  

NEW YORK — Americans increased their spending last month as inflation eased in many areas, and the job market remained remarkably strong. That gave companies “abnormal power to push up prices’’ and pass higher costs along to consumers – clout they hadn’t had for decades, Simon MacAdam, senior global economist at Capital Economics, wrote last month. Conagra Brands, which makes …

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