The first week of October is referred to as the “Golden Week” in China, a week-long national holiday to commemorate the founding of the Communist government that normally produces a huge surge in tourist activity.
The unusual combination of falling consumer debt use and rising spending is likely a reflection of Trump administration coronavirus relief programs.
Household spending jumped as the U.S. economy reopened in May.
Government payments boosted income in April but Americans shut in their homes spent nearly $2 trillion less than they had a month earlier.
The jump in incomes and consumer spending undermines the narrative of an ailing economy that Democrat presidential hopefuls are pushing.
Despite dipping again in November, confidence levels remain high and should support solid spending during this holiday season.
Consumer sentiment is up for the third consecutive month.
October’s survey shows healthy level of confidence and should stave off fears that a recession could occur in the near future.
An unexpected decline in sales in September is a warning signal about the strength of the U.S. consumer.
The sharp rise in July borrowing can be chalked up to Americans’ very high consumer confidence.
Elaine Parker of Job Creators Network writes in the Washington Times that the broad scope of economic indicators offset the concern that the inverted yield curve suggests a recession is imminent.
Bibles are exempt from President Trump’s upcoming tariff increases on Chinese goods following book publishers’ warnings of a “Bible tax.”
A huge batch of economic data sent economists scrambling to raise their forecasts for U.S. growth.
Walmart earnings and forecast indicate the U.S. consumer is going strong, allaying fears of a broad economic slowdown.
Retail sales were stronger than initially reported in April and strong again in May, indicating better economic growth.
Taking mom out to eat on Mother’s Day is a well-established tradition in the United States. Now an analysis of Bank of America data about debit card users shows that Generation X will be spending the most taking her out for a meal next weekend.
Consumer spending data points to a strengthening economy. Wages rose for the third month in a row. Inflation stayed tame.
As the stock market slumped and the government headed into a shutdown, American consumers pulled back on spending in December.
The U.S. economy grew at a robust annual rate of 3.5 percent in the July-September quarter as the strongest burst of consumer spending in nearly four years helped offset a sharp drag from trade.
Tax cuts have lowered utility rates this year, leading Americans to spend less on gas, water, and electricity. With incomes rising, this has helped push up the saving rate.
A bigger pullback in consumer spending brought first-quarter economic growth down to just 2 percent. The good news? The economy appears to have accelerated by a lot in recent months.
Israel‘s economy grew an annualized 4.5 percent in the first quarter of 2018, faster than previously thought, boosted by gains in consumer spending, investment and export, the Central Bureau of Statistics said in a second estimate.
