U.S. consumers hold their gloomiest outlook in six months on the American economy, according to the University of Michigan’s monthly survey of consumer sentiment.
Tag: Consumer Spending
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BUSINESS BANKRUPTCIES SOAR IN CANADA
In this year’s first quarter, Canada’s business bankruptcies shot up 87.2 percent, year on year, to 1,599, according to data from the government’s Office of the Superintendent of Bankruptcy. Household bankruptcies rose 14 percent.
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U.S. ECONOMY WILL GROW TWICE AS FAST AS OTHER G7 COUNTRIES, IMF SAYS
This year, the U.S. economy will grow more than twice as fast as any other G7 country, the International Monetary Fund (IMF) said in its latest World Economic Outlook report.
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U.S. CONSUMERS CONTINUE TO SLOW THEIR SPENDING
Inflated prices, emptied savings accounts, and high credit card debt seem to be continuing to persuade U.S. shoppers to curb their free-spending ways.
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WILL AMERICAN CONSUMERS KEEP DRIVING THE ECONOMY?
Last week’s report that U.S. consumers hiked their spending by 3.3 percent in 2023’s final quarter surprised many analysts, who had expected just a 2-percent bump.
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U.S. ECONOMY GREW MORE THAN FORECAST IN FOURTH QUARTER
U.S. GDP grew by 3.3 percent in last year’s final quarter, ending a year in which a widely expected recession failed to materialize.
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CONSUMERS GIVE RETAILERS A LUMP OF COAL FOR THE HOLIDAYS
Initial reports show that consumers spent more than last year over the frenzied “Black Friday” shopping weekend following the Thanksgiving holiday, but only because prices were higher, The Wall Street Journal reported.
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THIRD-QUARTER GROWTH ESTIMATE REVISED UPWARD
In this year’s third quarter, the U.S. economy grew by a robust 5.2 percent, adjusted for inflation, not the 4.9-percent clip estimated earlier, the Commerce Department said in a statement.
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U.S. ECONOMY GREW 4.9 PERCENT IN THIRD QUARTER
U.S. GDP grew at an annual rate of 4.9 percent in this year’s third quarter, the commerce department reported.
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TROUBLE AHEAD? U.S. CONSUMERS CUT BACK ON CREDIT CARD SPENDING
Consumers charged 11 percent less to their credit cards in September than they did in August, marking the fourth consecutive month of declining charges and the largest monthly drop this year, Citi reported.
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