U.S. households spent 0.6 percent more in August than in July, the commerce department reported. Economists in a Reuters poll expected a 0.5-percent gain.
Tag: inflation
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CONSUMER OUTLOOK CONTINUED TO DARKEN IN SEPTEMBER
U.S. households had a more gloomy outlook on the economy in September than in August, according to the University of Michigan’s monthly survey of consumer sentiment.
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INFLATION ROSE AGAIN IN AUGUST
By several measures, consumer prices continued to rise again in August.
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SPECIAL REPORT, THE FED’S RATE CUT: WHAT NEXT?
On 17 September, the U.S. Federal Reserve’s Open Market Committee shaved a quarter point from its policy interest rate, dropping the rate charged on loans to 4.25 percent in its first rate reduction since December 2024 and to its lowest in almost three years.
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NEW CLAIMS FOR JOBLESS BENEFITS FELL IN MOST RECENT WEEK
In the week ending 13 September, 33,000 fewer people filed new claims for unemployment insurance than during the week before. The number fell from 264,000 to 231,000. In a Wall Street Journal poll, economists had forecasted 240,000 claims.
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SPOTLIGHT: CHINA’S ECONOMIC TROUBLES
Last month, several economic measures weakened again in China under the continuing lack of an active domestic economy.
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SOTHEBY’S LOSES $248 MILLION IN 2024
In 2024, renowned art auction and appraisal house Sotheby’s more than doubled its 2023 pre-tax loss of $106 million to $248 million as inflation and the world’s uncertain economy continued to afflict the art market.
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ECB HOLDS KEY RATE AT 2 PERCENT
The European Central Bank (ECB) held its policy interest rate at 2 percent at its 11 September meeting.
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U.S. CONSUMER SENTIMENT SINKS TO FOUR-MONTH LOW
U.S. consumers’ view of the country’s economy slipped lower for a second consecutive month and bottomed at its lowest level in four months, according to the initial September survey of consumer sentiment by the University of Michigan.
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BLS BEGINS INTERNAL REVIEW UNDER WHITE HOUSE PRESSURE
The U.S. Labor Department has begun an internal investigation into the way its Bureau of Labor Statistics (BLS) collects data on inflation and job creation after Trump administration officials have raised questions about the authenticity of the BLS’s reports.