consumer spending

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Black Friday Sets $11.4B Record

Consumers shrug off unemployment, pessimism, and spend

(Newser) - Holiday shoppers put their economic fears on layaway on Friday, and instead bought and charged their way to a record huge Black Friday, reports Bloomberg . With $11.4 billion spent at retail stores and malls on Friday, spending was up 6.6% from last year, the biggest one-year gain since...

Economy Shows Signs of Life: GDP Jumps 2.5%

Meanwhile, new unemployment claims fell

(Newser) - The US’ total economic output shot up 2.5% from July through September, after two dismal quarters of rising just 0.4% and 1.3%, according to a new GDP report released today. Consumers amped up their spending on both durable goods and services, and business investments soared 16.3%—...

Consumer Spending Jumps
 Consumer Spending Jumps 
Aug 29, 2011 9:22 AM CDT

Consumer Spending Jumps

Salaries and wages increase, too, in July report

(Newser) - The Commerce Department delivered a welcome bit of positive economic news today, reporting that consumer spending shot up 0.8% in July. That's the metric's best move in five months, and more or less laps the 0.4% to 0.5% economists had expected, the Wall Street Journal...

AP Poll of Economists: Double-Dip Recession Unlikely, But Growth Will Be Slow
Next 12 Months: No Recession, but Slow Growth
economists say
Aug 23, 2011 2:55 PM CDT

Next 12 Months: No Recession, but Slow Growth

Risk of recession at 26%; unemployment likely 9% at year's end

(Newser) - Despite a bombardment of bad news in recent weeks, economists don’t expect another recession over the next 12 months—but economic growth will barely be perceptible in that period, an AP poll of top economists finds. They expect high unemployment and weak consumer spending to dog the US into...

Second Phase of Double-Dip Recession Could Be Even Worse
Brace Yourself for Even
Worse 2nd Recession
analysis
Aug 8, 2011 8:33 AM CDT

Brace Yourself for Even Worse 2nd Recession

Could devastate a still-ailing economy, writes Catherine Rampell

(Newser) - Economists say we could be headed for a second recession—and if they’re right, it’s poised to be even more devastating than the first, writes Catherine Rampell in the New York Times . That’s because the starting point for the second dip would be our current weak economy,...

Recession Worse Than Thought; GDP Growth Weak

Economy grew just 1.3% over past three months

(Newser) - We already knew the Great Recession was the worst in decades, but in fact we were even worse off than we thought, new figures show. The economy shrank 5.1% over the course of the recession, from 2007 to 2009—1 percentage point worse than the earlier estimate of 4....

It&#39;s the Busted Consumer Bubble, Stupid
 It's the Busted 
 Consumer Bubble, Stupid 
DAVID LEONHARDT
Jul 17, 2011 8:56 AM CDT

It's the Busted Consumer Bubble, Stupid

With no consumer spending, economy keeps dragging

(Newser) - There are plenty of theories and explanations for the economic crisis that has afflicted the United States for years now, but they all miss the element of the continuing malaise—it's really about the bursting of the decades-long consumer spending bubble, writes David Leonhardt in the New York Times...

Consumer Spending Weakest in 20 Months

May showed first decline since January 2010

(Newser) - Americans spent in May at the weakest pace in 20 months, a sign that high gas prices and unemployment are holding back the economy. Consumer spending was unchanged, the worst result since September 2009, the Commerce Department said today. When adjusted for inflation, spending actually dropped 0.1%—the first...

Walmart: Gas Prices Hurting Our Shoppers

CEO says customers 'running out of money'

(Newser) - Walmart shoppers are running out of cash, pinched by high gas prices and unemployment, the company’s CEO said this week. “We’re seeing core consumers under a lot of pressure,” Mike Duke said at a retail industry gathering, according to CNN . “There’s no doubt that...

Consumer Spending Up... Thanks to Gas Prices

Personal income up 0.3%, but inflation hits hard

(Newser) - Consumer spending rose at its fastest rate in four months in February—but that’s in large part due to rising gas prices. Consumer spending climbed 0.7%, while personal income rose 0.3% following January’s 1.2% jump, the AP notes. Both gains reflected a Social Security tax...

Only 12% Chance We'll Return to Recession
Only 12% Chance We'll Return to Recession
say economists
Feb 14, 2011 8:39 AM CST

Only 12% Chance We'll Return to Recession

Forecast fastest expansion in years on consumer spending

(Newser) - Economists are growing more optimistic about this year’s climate, predicting it will expand at its fastest pace since 2003, the Wall Street Journal reports. The paper polled 51 economists. Among the highlights:
  • Economists see only a 12% risk of returning to recession, compared to 22% in September.
  • In the
...

Economy Grew at 3.2% Rate in Q4

Consumer spending grew at fastest pace in 5 years

(Newser) - Spurred by consumer spending and a shrinking trade deficit, the economy grew at a 3.2% annual rate in the fourth quarter. That beats the previous quarter's 2.6% but falls short of analysts' expectations of 3.5%. Still, "a number above 3% should drive a stake through the...

Record Numbers Shopped on Black Friday

But they're cautious in their purchases

(Newser) - Don’t look now, but America might be getting its spending groove back. A record 212 million shoppers hit up physical and online stores over the weekend, the Huffington Post reports, an 8.7% jump from last year. Their spending rose, too, to an average $365.34, up 6.4%...

1 in 4 Americans a Credit Risk

Credit scores sink to new lows

(Newser) - Thanks to the Great Recession, the credit scores of millions more Americans have sunk to new lows. New figures show that an astounding 1 in 4 households are now in the lowest credit category, boosting the number of those considered poor lending risks to 43 million. Even more consumers are...

Economy Expands at 3.2% Clip as Spending Rebounds

Consumer spending drives growth for third straight month

(Newser) - The economy grew at a solid 3.2% pace during the first quarter of this year as consumers boosted their spending by the most in three years. It marked the third straight quarterly gain, providing more hope that a recovery is in progress. Still, growth came in a tad shy...

As Sales Slump, Wal-Mart Cuts Prices

Watchers see ploy to hold on to middle class post-recession

(Newser) - Wal-Mart will discount around 10,000 items in the face of dipping sales, even as other retailers report increases in business. The move could be a ploy to hang on to middle-class shoppers, who flocked to the big-box behemoth in the depths of the recession but have been upgrading as...

What Price Love? $63.34 on Valentine's Day

Spending on spouses or partners is expected to drop

(Newser) - The recession hath made its mark on love, as an industry group expects Valentine’s Day spending to fall by about 6% this year compared to last. The National Retail Federation estimates someone in a relationship will spend $63.34 this year on their spouse or significant other, a drop...

Ignore Glimmers of Hope, Economy's Still in the Tank
Ignore Glimmers of Hope,
Economy's Still in the Tank
PAUL KRUGMAN
Jan 4, 2010 8:48 AM CST

Ignore Glimmers of Hope, Economy's Still in the Tank

If Obama takes his foot off the gas, it'll be 1937 all over again

(Newser) - Don’t believe the hype, ignore any rising GDP or employment figures, and whatever you do don’t call it a recovery—or we’re going to wind up right back where we started, argues Paul Krugman in the New York Times . There are indeed positive numbers coming, and with...

Credit Reform May Drain $9B in Holiday Sales

Consumer protections result in lower limits, less spending

(Newser) - The impending enactment of new credit card law is poised to rob retailers of $9 billion in holiday sales compared to last year. The law, designed to protect consumers from rates being raised on the sly and sneaky fees, already has led to lower credit limits and more rejected applications...

That Menu Is Playing With Your Mind, Wallet

Restaurants high and low use psychology to boost spending

(Newser) - In the recession, restaurants casual and white tablecloth alike are desperately updating one of their secret moneymakers: the menu. Numerous studies have concluded that customers spend more when items have sumptuous descriptions, a relative’s name is included, or, most importantly, the $ sign is banished entirely. Whether you can...

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