American Express’s share price shrank 2.8 percent on 21 August after Bank of America (BoA) analysts warned of weak consumer spending.
Tag: Consumer Spending
STARTUPS’ FAILURE RATE SOARS
Over the past 12 months, business startups failed at a rate 60 percent higher than the 12 months prior, according to Carta, which provides services to young companies.
U.K. ECONOMY GROWS MORE THAN EXPECTED IN YEAR’S FIRST HALF
Britain’s GDP expanded by 0.6 percent during April, May, and June, nearly matching the first quarter’s 0.7-percent expansion and surprising analysts who had expected a more modest rise.
U.S. ECONOMIC GROWTH DOUBLED IN SECOND QUARTER
U.S. GDP grew by 2.8 percent in April through June, doubling the first quarter’s pace of 1.4 percent.
SECURITY OF GOVERNMENT’S DATA AT RISK, STUDY SAYS
The security of the U.S. government’s data on jobs, consumer spending, crime, education, demographic trends, and other fields is at growing risk, according to a new study by the American Statistical Association.
SPECULATORS BAIL OUT OF JUNK BONDS AS BUSINESS FAILURES INCREASE
Bond buyers are trading out of the riskiest of junk bonds in favor of higher-rated securities as a rise in U.S. bankruptcies has raised concerns over the survival of highly-leveraged businesses during a prolonged period of high interest rates.
U.S. MANUFACTURING ACTIVITY SLOWS AGAIN IN JUNE
For the third consecutive month, U.S. factory activity contracted as manufacturers’ cost of materials fell their most in more than a year.
AMERICANS HAVE SPENT THEIR COVID-ERA SAVINGS. CAN THEY KEEP SPENDING?
Consumer spending makes up almost 70 percent of the American GDP. With their COVID-era savings spent, can American households continue to support the U.S. economy?
RETAIL SALES FALL FLAT IN MAY
U.S. retail sales increased by a scant 0.1 percent in May as retailers had to offer more discounts to entice cash-strapped consumers to buy, the commerce department reported.
LOWE’S, MACY’S, TARGET REPORT WEAKER SALES
The 1,900-store Target discount chain reported a 3.7-percent drop in overall sales in its most recent quarter ending in early May, making it the fourth consecutive quarter of shrinking sales for the company.