In July, U.S. consumer spending kept pace with core inflation, with both rising at 0.3 percent from June. It was the largest monthly gain in spending since April, according to data from the Bureau of Economic Analysis (BEA).
Tag: inflation
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ECONOMISTS WARN OF IMPACT OF TRUMP’S ATTACKS ON THE FEDERAL RESERVE
Economists surveyed by the Financial Times said the financial markets have not “fully priced in” the issues that could arise from U.S. President Donald Trump’s threats against the central bank, which may result in the bank becoming a “puppet of the government.”
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U.K. INFLATION REACHES 18-MONTH HIGH IN JULY
Britain’s headline inflation accelerated to 3.8 percent in July, with inflation in services jumping 5 percent, giving the U.K. the highest inflation rate among the world’s richest countries.
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POWELL SIGNALS AN INTEREST RATE CUT IN SEPTEMBER
Speaking on 22 August at the global central bankers’ retreat in Wyoming, Jerome Powell, chair of the U.S. Federal Reserve, indicated the Fed will probably cut its key interest rate next month.
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ROBUST EARNINGS BUOY STOCK INVESTORS’ CONFIDENCE
As the current earnings season ends, companies listed in the Standard & Poor’s 500 index are “handily beating expectations” after the tariff war, a weakened job market, and tighter consumer spending had lowered forecasts, The Wall Street Journal reported.
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U.S. PRODUCER PRICES CLIMB BY MOST IN THREE YEARS
U.S. wholesale prices jumped 0.9 percent in July, their biggest monthly increase since June 2022. Producers’ margins increased, indicating that a significant number of them are passing tariff costs through to their customers, Bloomberg noted.
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U.S. RETAIL SALES ROSE IN JULY AMID WARNING SIGNS
The dollar value of U.S. retail sales increased by 0.5 percent in July, more than inflation rose, on stronger sales of passenger vehicles and heavy promotions by Amazon and Walmart.
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CONSUMERS’ MOOD HAS DARKENED IN AUGUST
Consumers are no longer fearing a short-term economic catastrophe from Donald Trump’s tariff war, but they do expect higher prices and fewer jobs, according to this month’s survey of consumer sentiment by the University of Michigan.
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INFLATION CREEPS HIGHER IN JULY AS SERVICE PRICES CLIMB
In July, consumer prices rose 0.2 percent from June, as economists forecasted, and grew by 2.7 percent year on year.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.