The unexpected American shopping spree seems to have cooled
1 year, 9 months ago

The unexpected American shopping spree seems to have cooled

NPR  

The unexpected American shopping spree seems to have cooled Enlarge this image toggle caption Stefani Reynolds/AFP via Getty Images Stefani Reynolds/AFP via Getty Images An unexpected spending spree by U.S. shoppers seems to have calmed. Sponsor Message Inflation has been moderating since peaking last summer, but consumer prices in February were still 6% higher than a year ago, data showed this week. But in the interconnected cycle that is the nation's economy, it can also contribute to inflation, for example if companies raise prices to offset higher labor costs, and workers use extra pay for extra spending despite higher prices. A messy task of cooling inflation Wednesday's retail data will add to the Federal Reserve's tricky task: to raise interest rates enough to curb corporate and personal spending, but not too much that they trigger a recession.

Spending Fed Retail Sales  unexpected  stores  spending  higher  shoppers  american  cooled  retail  sales  shopping  job  spree  continue

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American consumers feeling less confident in December, Conference Board says
22 hours, 3 minutes ago

American consumers feeling less confident in December, Conference Board says

Associated Press  

American consumers are feeling less confident in December, a business research group says. The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Consumers had been feeling increasingly confident in recent months, spending more in the run-up to the all-important holiday shopping season. The consumer confidence index measures both Americans’ …

Retail sales up solidly in October as Americans showed continued willingness to spend
1 month, 1 week ago

Retail sales up solidly in October as Americans showed continued willingness to spend

Associated Press  

WASHINGTON — Americans stepped up their spending at retailers last month in the latest sign that healthy consumer spending is driving the economy’s steady growth. Retail sales rose 0.4% from September to October, the Commerce Department said Friday, a solid increase though less than the previous month’s robust 0.8% gain. “People may not love how much it costs to go …

Retail sales up solidly in October as Americans showed continued willingness to spend
1 month, 1 week ago

Retail sales up solidly in October as Americans showed continued willingness to spend

LA Times  

Americans stepped up their spending at retailers last month in the latest sign that healthy consumer spending is driving the economy’s steady growth. Retail sales rose 0.4% from September to October, the Commerce Department said Friday, a solid increase though less than the previous month’s robust 0.8% gain. Sales in some categories fell — furniture stores, clothing outlets and drug …

U.S. shoppers spent more at retailers last month in latest sign consumers are driving growth
2 months, 1 week ago

U.S. shoppers spent more at retailers last month in latest sign consumers are driving growth

LA Times  

Americans stepped up their purchases at retailers last month as low unemployment, steady pay gains and rising stock and home values helped sustain their willingness to spend despite higher prices. The retail sales figures aren’t adjusted for inflation, and the prices of goods fell slightly last month. Thursday’s retail sales report arrives amid expectations for a solid holiday shopping season, …

U.S. retail sales ticked up last month in sign of ongoing consumer resilience
3 months, 1 week ago

U.S. retail sales ticked up last month in sign of ongoing consumer resilience

LA Times  

Americans spent a bit more at retailers last month, providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate. Retail sales ticked up 0.1% from July to August, after jumping the most in a year and a half the previous month, the Commerce Department said Tuesday. Average paychecks, particularly …

U.S. shoppers sharply boosted spending at retailers in July despite higher prices
4 months, 1 week ago

U.S. shoppers sharply boosted spending at retailers in July despite higher prices

LA Times  

Americans stepped up their spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates. The Commerce Department reported Thursday that retail sales jumped 1% from June to July, the biggest such increase since January 2023, after having declined …

This Week: Consumer price index, retail sales, housing starts
4 months, 1 week ago

This Week: Consumer price index, retail sales, housing starts

Associated Press  

A look at some of the key business events and economic indicators upcoming this week. Economists predict the consumer price index rose 3% in July from as year earlier, matching June’s pace. Consumer price index, annual percent change, not seasonally adjusted: Feb. 3.2 March 3.5 April 3.4 May 3.3 June 3.0 July 3.0 Source: FactSet SIZING UP RETAIL SALES The …

Ongoing sales have boosted spending during a cost-of-living crisis. Will shoppers pay the price with an interest rate rise?
5 months, 2 weeks ago

Ongoing sales have boosted spending during a cost-of-living crisis. Will shoppers pay the price with an interest rate rise?

ABC  

Australia's struggling retail sector has been given a glimmer of hope, with rolling sales encouraging shoppers to spend — but economists warn that it may come with the price of another interest rate hike by the Reserve Bank. The recent jump in retail spending, boosted by clothing and footwear retailers offering big discounts and earlier-than-usual sales seasons, has increased expectations …

Discounting is back in fashion, as Americans get tired of paying more
6 months, 3 weeks ago

Discounting is back in fashion, as Americans get tired of paying more

NPR  

Discounting is back in fashion, as Americans get tired of paying more toggle caption Scott Olson/Getty Images After two years of paying more for things, Americans are growing more cautious about how they spend their money and are forcing retailers to offer more discounts. “It’s a cautious consumer,” said CEO Todd Vasos, describing Dollar General's typical shopper. That newfound caution …

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools
6 months, 3 weeks ago

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools

Hindustan Times  

The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer and equipment spending and a key measure of inflation ticked down, keeping the Federal Reserve on track to possibly begin cutting interest rates before the end of the year. Details of the report showed that consumer spending growth, revised down by 0.5 …

Retail sales were unchanged in April from March as inflation and interest rates curb spending
7 months, 1 week ago

Retail sales were unchanged in April from March as inflation and interest rates curb spending

Associated Press  

NEW YORK — Americans unexpectedly paused their spending in April from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome. Retail sales were unchanged, coming in well below economists’ expectations, and follow a revised 0.6% pace in March, according to Commerce Department data released Wednesday. The retail sales figure came out on the …

Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful
8 months, 1 week ago

Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful

Associated Press  

NEW YORK — Americans boosted spending at a hotter-than-expected pace in March, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges. Retail sales rose 0.7% last month — almost double what economists had forecast — after rising 0.9% in February, according to Commerce Department data released Monday. This is one of the strongest retail sales reports we’ve …

February retail sales up 0.6%, yet fissures emerge in what has been a driving force for US economy
9 months, 1 week ago

February retail sales up 0.6%, yet fissures emerge in what has been a driving force for US economy

Associated Press  

NEW YORK — Americans picked up their spending a bit in February after pulling back the previous month. Retail sales rose 0.6% last month after falling a revised 1.1% in January, dragged down in part by inclement weather, according to the Commerce Department’s report on Thursday. February’s number was also lifted in part by higher gas prices as well as …

America’s economy slowed—it probably won’t stumble
10 months, 1 week ago

America’s economy slowed—it probably won’t stumble

Live Mint  

The U.S. economy took a breather in January following brisk growth at the end of last year, but it remains fundamentally healthy. Technical issues with how the retail sales data was seasonally adjusted might have weighed on the reading, and cold weather in January likely had an impact on both retail sales and industrial production. Within the retail sales report, …

Retail sales up strongly in December as Americans showed continued willingness to spend
11 months ago

Retail sales up strongly in December as Americans showed continued willingness to spend

Associated Press  

NEW YORK — Americans stepped up their spending at retailers in December, closing out the holiday shopping season and the year on an upbeat tone and signaling that people remain confident enough to keep spending freely. Higher energy and housing prices boosted overall U.S. inflation in December, a sign that the Federal Reserve’s drive to slow inflation to its 2% …

Retail sales rise 0.3% in November as Americans hit gas, not brakes on shopping, travel, restaurants
1 year ago

Retail sales rise 0.3% in November as Americans hit gas, not brakes on shopping, travel, restaurants

Associated Press  

NEW YORK — Americans picked up their spending from October to November unexpectedly as the unofficial holiday season kicked off, underscoring the power of shoppers despite elevated prices. “While consumers continue to face hurdles from higher borrowing costs, tighter credit conditions and elevated prices, a still-strong labor market, a positive trend in incomes and an easing in price pressures should …

Black Friday deals this year did not get American customers to shop much
1 year ago

Black Friday deals this year did not get American customers to shop much

Live Mint  

It’s not just you. Walmart chief financial officer John David Rainey told investors in an earnings call earlier this month that the company saw a “sharper falloff" in consumer spending toward the end of October. That caution echoed throughout recent earnings reports from retailers ranging from Lowe’s Inc. to Target Corp. Consumers continued to spend this weekend, but they weren’t …

Behind Black Friday’s crowds lie stories of consumers squeezed by inflation
1 year, 1 month ago

Behind Black Friday’s crowds lie stories of consumers squeezed by inflation

LA Times  

Months of punishing inflation have pushed East Hollywood resident Diane Roque to economize by canceling her family’s cable subscription and prioritizing cooking at home. “Now it’s very online-focused, and we’re really looking to see the online velocity surge on the major days like Black Friday and Cyber Monday,” said Vivek Pandya, lead analyst at Adobe Digital Insights. “They’re stretching out …

Retail sales slip in October as consumers pull back after summer splurges
1 year, 1 month ago

Retail sales slip in October as consumers pull back after summer splurges

Associated Press  

NEW YORK — Americans cut back on retail spending in October, ending six straight months of gains, though the decline was partly driven by falling prices for both gasoline and cars. Retail sales fell 0.1% last month after jumping a strong 0.9% in September, according to a report released Wednesday by the Commerce Department. Most retail categories reported a drop …

Retail sales slip in October as consumers pull back after summer splurges
1 year, 1 month ago

Retail sales slip in October as consumers pull back after summer splurges

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. Read our privacy policy Americans cut back on retail …

After a summer of splurging, Americans start to pull back on spending
1 year, 1 month ago

After a summer of splurging, Americans start to pull back on spending

LA Times  

A customer browses the holiday lights at a store in Charlotte, N.C. Economists forecast a slowdown in consumer spending in the final three months of the year, as credit card debt and deliquencies rise, and average savings fall. Consumer spending jumped in the July-September quarter, but economists forecast it will slow in the final three months of the year, as …

Retail sales rise solid 0.7% in September, reflecting US shoppers’ resilience despite higher prices
1 year, 2 months ago

Retail sales rise solid 0.7% in September, reflecting US shoppers’ resilience despite higher prices

Associated Press  

NEW YORK — Americans showed their steadfast resilience and kept spending online, at restaurants and other outlets in September even as they grappled with higher prices, rising interest rates and a host of other headwinds piling up. Tuesday’s sales figures aren’t adjusted for inflation, but the cost of goods barely rose last month, so the increased spending isn’t a reflection …

Retail sales up a solid 0.7% in September as American consumers defy rising prices, interest rates
1 year, 2 months ago

Retail sales up a solid 0.7% in September as American consumers defy rising prices, interest rates

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Despite higher prices, American shoppers keep spending
1 year, 2 months ago

Despite higher prices, American shoppers keep spending

LA Times  

A man looks at the Apple’s new iPhone 15 models last month in Los Angeles. A closely watched category of retail sales that excludes auto dealers, gas stations and building materials and feeds into the gross domestic product jumped 0.6% last month compared to the prior month. “Fed officials have another rate hike this year up on their forecast board, …

Retail sales rise 0.6% in August largely due to a spike in gas prices
1 year, 3 months ago

Retail sales rise 0.6% in August largely due to a spike in gas prices

Associated Press  

NEW YORK — Americans stepped up retail spending modestly from July to August as the price of gasoline jumped, cutting into budgets as many families send their kids off to school. Retail sales rose 0.6% in August, compared with a revised 0.5% increase in July, according to a report issued by the Commerce Department on Thursday. The big rise in …

Consumers keep spending freely, powering a resilient economy
1 year, 4 months ago

Consumers keep spending freely, powering a resilient economy

LA Times  

Items are displayed in a boutique along Tennyson Street in Denver. Americans increased their purchases at retailers last month — for clothing, dining out, online goods and other items — in a sign that solid consumer spending is still powering a resilient U.S. economy. Analysts noted that spending on Amazon Prime Day, the online juggernaut’s big two-day sales event that …

Americans bump up spending in June as inflation eases in a strong jobs market
1 year, 5 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 …

Retail sales rose 0.3% in May despite pressure from higher inflation and interest rates
1 year, 6 months ago

Retail sales rose 0.3% in May despite pressure from higher inflation and interest rates

Associated Press  

NEW YORK — Americans increased their spending at retailers last month despite pressure from still-high inflation and rising borrowing costs. Thursday’s report from the Commerce Department showed that retail sales rose 0.3% from April to May, boosted by stronger sales of auto and parts dealers. The latest retail sales data follow a government report this week that consumer inflation eased …

Retail sales up 0.4% in April, buoyed by solid job market and declining prices in some areas
1 year, 7 months ago

Retail sales up 0.4% in April, buoyed by solid job market and declining prices in some areas

Associated Press  

NEW YORK — Americans picked up their spending modestly in April, spending money online and dining out, buoyed by a solid job market and a retreat in prices for some things. That is the first retail sales increase since January, when unusually warm weather and a big jump in Social Security benefits juiced spending. Retail sales data from the U.S. …

US retail sales fall 1% amid high inflation, rising rates
1 year, 8 months ago

US retail sales fall 1% amid high inflation, rising rates

Associated Press  

WASHINGTON — Americans cut their spending at retail stores in March for the second straight month, a sign consumers are becoming more cautious after a burst of spending in January. Gas-station sales plunged 5.5% in March, though the data isn’t adjusted for price changes, and gas prices fell last month. Growth likely reached about 2% at an annual rate in …

Retail sales dip 0.4% in February after buying burst in Jan.
1 year, 9 months ago

Retail sales dip 0.4% in February after buying burst in Jan.

Associated Press  

NEW YORK — America’s consumers trimmed their spending in February after a buying burst in January, underscoring the volatility of the economic environment. Still, it remains to be seen whether news coverage of bank failures and stock market gyrations will hurt consumer sentiment this month, writes Capital Economics’ Deputy Chief U.S Economist Andrew Hunter in a report issued Wednesday. The …

Retail sales jump as Americans defy inflation and rate hikes
1 year, 10 months ago

Retail sales jump as Americans defy inflation and rate hikes

Associated Press  

WASHINGTON — America’s consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy’s resilience in the face of higher prices and multiple interest rate hikes by the Federal Reserve. Wednesday’s robust retail sales figures, along with a strong January job report, …

Australian retailers had a worse-than-expected Christmas as cost of living pressures bite
1 year, 10 months ago

Australian retailers had a worse-than-expected Christmas as cost of living pressures bite

ABC  

There are clearer signs that consumers are feeling the pain of high inflation and successive interest rate hikes as Australian retailers have posted their first drop in sales in almost a year. Key points: Retail turnover in fell 3.9 per cent in December Turnover rose 7.5 per cent, compared to December 2021 Markets have priced in an 84 per cent …

US inflation and consumer spending cooled in December
1 year, 10 months ago

US inflation and consumer spending cooled in December

Associated Press  

WASHINGTON — The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed’s series of interest rate hikes are slowing the economy. Friday’s report from the Commerce Department showed that prices rose 5% last month from a year earlier, down from a 5.5% year-over-year increase in November. Last year’s holiday …

US inflation and consumer spending cooled in December
1 year, 10 months ago

US inflation and consumer spending cooled in December

Al Jazeera  

The pullback in consumer spending will likely be welcomed by Fed officials, who are seeking to cool the economy. The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell – the latest evidence that the Fed’s series of interest rate rises are slowing the economy. Friday’s report from the US Department of Commerce showed that prices …

December retail sales fall 1.1% as inflation takes a toll
1 year, 11 months ago

December retail sales fall 1.1% as inflation takes a toll

Associated Press  

NEW YORK — Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season. Retail sales fell a worse-than-expected 1.1% in December, following a revised 1% drop in November, the Commerce Department reported Wednesday. In October, retail …

Retail sales drop at start of key holiday shopping season
2 years ago

Retail sales drop at start of key holiday shopping season

Associated Press  

WASHINGTON — Americans cut back sharply on retail spending last month as the holiday shopping season began with high prices and rising interest rates forcing families, particularly lower income households, to make harder decisions about what they buy. suggests that higher borrowing costs, slower employment growth and an unusually low saving rate are now catching up with consumers,” said Andrew …

US retail sales rise as consumers step up spending
2 years, 1 month ago

US retail sales rise as consumers step up spending

Al Jazeera  

Steady job growth, rising wages, and higher savings as people cut back on travel and entertainment during the pandemic have enabled surprisingly steady spending by consumers. Steady job growth, rising wages, and higher savings after many people cut back on travel and entertainment during the pandemic have enabled surprisingly steady spending by consumers, particularly those with higher incomes. Car sales …

Inventory pileup, uneasy shoppers put retailers in jeopardy
2 years, 3 months ago

Inventory pileup, uneasy shoppers put retailers in jeopardy

Live Mint  

From Walmart Inc. to Nordstrom Inc., retailers have a glut of inventory and are discounting items to clear out space for holiday goods. Deloitte LLP is likely to predict a slight sales increase for the holidays, largely reflecting higher prices, said Rod Sides, global head of the consulting firm’s insights practice. “My job is stable and my pay hasn’t changed, …

Retail sales in May slip 0.3% amid surging inflation
2 years, 6 months ago

Retail sales in May slip 0.3% amid surging inflation

Associated Press  

NEW YORK — Americans trimmed their spending unexpectedly in May compared with a month before, underscoring how surging inflation on daily necessities like gas is causing them to be more cautious about buying discretionary items. U.S. retail sales slipped 0.3% last month, down from a revised 0.7% increase in April, the Commerce Department said Wednesday. But excluding sales from gas …

Retail sales rise 0.9% in April as consumers show resilience
2 years, 7 months ago

Retail sales rise 0.9% in April as consumers show resilience

Associated Press  

WASHINGTON — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. “Despite the surge in prices weighing on their purchasing power, the U.S. consumer now appears to be single-handedly keeping the global economy afloat.” The Tuesday report also showed that sales …

US retail sales rise 0.9% in April in face of sky-high inflation
2 years, 7 months ago

US retail sales rise 0.9% in April in face of sky-high inflation

Al Jazeera  

The increase in retail sales was driven by greater sales of cars, electronics, and at restaurants, the US Department of Commerce. United States retail sales rose 0.9 percent in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. Even adjusting for inflation, which was 0.3 percent on …

Retail sales rise 0.5% in March amid soaring inflation
2 years, 8 months ago

Retail sales rise 0.5% in March amid soaring inflation

Associated Press  

NEW YORK — Retail sales rose modestly in March, but higher prices for food, gasoline and other basics took a big share of consumers’ wallets. January’s increase of 4.9% was the biggest jump in spending since March 2021, when American households received a final federal stimulus check of $1,400. Matt Shay, CEO of National Retail Federation, the nation’s largest retail …

This Week: Consumer prices, Delta results, retail sales
2 years, 8 months ago

This Week: Consumer prices, Delta results, retail sales

Associated Press  

A look at some of the key business events and economic indicators upcoming this week: EYE ON INFLATION The Labor Department serves up its latest monthly reading of inflation at the consumer level Tuesday. Americans continue to face higher costs, reflected in sharp annual increases in the consumer price index over much of the last 12 months. Consumer price index, …

US retail sales rose 0.3% in February as high prices take a bite
2 years, 9 months ago

US retail sales rose 0.3% in February as high prices take a bite

Al Jazeera  

Many retailers are bracing for how the war in Ukraine will worsen supply shortages, with reports already surfacing of limited supplies of wheat, metals, and electronic chips. Retail sales increased 0.3 percent after registering a revised 4.9 percent jump from December to January, driven by wage gains, solid hiring and more money in banking accounts, according to the Department of …

January retail sales surge 3.8% as consumers defy inflation
2 years, 10 months ago

January retail sales surge 3.8% as consumers defy inflation

Associated Press  

NEW YORK — Fueled by pay gains, solid hiring and enhanced savings, Americans sharply ramped up their spending at retail stores last month in a sign that many consumers remain unfazed by rising inflation. Retail sales jumped 3.8% from December to January, the Commerce Department said Wednesday, a much bigger increase than economists had expected. “Job growth is strong, wages …

Defying inflation, Americans ramped up spending last month
3 years, 1 month ago

Defying inflation, Americans ramped up spending last month

Associated Press  

WASHINGTON — Many Americans have taken a darker view of the economy as inflation has worsened. Buoyed by solid hiring, healthy pay gains and substantial savings stemming in part from government stimulus checks and other relief, Americans ramped up their spending at retail stores and online shops last month. Gas sales rose 3.9% in October, while gas prices, before seasonal …

US consumer spending and incomes fall, but rebound is expected
3 years, 8 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 …

'This Was Bad': Retail Sales Suffer Big Chill In February Amid Stormy Weather
3 years, 9 months ago

'This Was Bad': Retail Sales Suffer Big Chill In February Amid Stormy Weather

NPR  

'This Was Bad': Retail Sales Suffer Big Chill In February Amid Stormy Weather Enlarge this image toggle caption Joe Raedle/Getty Images Joe Raedle/Getty Images Consumers put their pocketbooks on ice last month after a spending spree in January. A winter storm that blanketed much of the country's midsection last month was partly to blame, depressing demand for sporting goods, home …

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