consumer spending

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Walmart: Gas Prices Hurting Our Shoppers

CEO says customers 'running out of money'

(Newser) - Walmart shoppers are running out of cash, pinched by high gas prices and unemployment, the company’s CEO said this week. “We’re seeing core consumers under a lot of pressure,” Mike Duke said at a retail industry gathering, according to CNN . “There’s no doubt that...

Consumer Spending Up... Thanks to Gas Prices

Personal income up 0.3%, but inflation hits hard

(Newser) - Consumer spending rose at its fastest rate in four months in February—but that’s in large part due to rising gas prices. Consumer spending climbed 0.7%, while personal income rose 0.3% following January’s 1.2% jump, the AP notes. Both gains reflected a Social Security tax...

Only 12% Chance We'll Return to Recession
Only 12% Chance We'll Return to Recession
say economists
Feb 14, 2011 8:39 AM CST

Only 12% Chance We'll Return to Recession

Forecast fastest expansion in years on consumer spending

(Newser) - Economists are growing more optimistic about this year’s climate, predicting it will expand at its fastest pace since 2003, the Wall Street Journal reports. The paper polled 51 economists. Among the highlights:
  • Economists see only a 12% risk of returning to recession, compared to 22% in September.
  • In the
...

Economy Grew at 3.2% Rate in Q4

Consumer spending grew at fastest pace in 5 years

(Newser) - Spurred by consumer spending and a shrinking trade deficit, the economy grew at a 3.2% annual rate in the fourth quarter. That beats the previous quarter's 2.6% but falls short of analysts' expectations of 3.5%. Still, "a number above 3% should drive a stake through the...

Record Numbers Shopped on Black Friday

But they're cautious in their purchases

(Newser) - Don’t look now, but America might be getting its spending groove back. A record 212 million shoppers hit up physical and online stores over the weekend, the Huffington Post reports, an 8.7% jump from last year. Their spending rose, too, to an average $365.34, up 6.4%...

1 in 4 Americans a Credit Risk

Credit scores sink to new lows

(Newser) - Thanks to the Great Recession, the credit scores of millions more Americans have sunk to new lows. New figures show that an astounding 1 in 4 households are now in the lowest credit category, boosting the number of those considered poor lending risks to 43 million. Even more consumers are...

Economy Expands at 3.2% Clip as Spending Rebounds

Consumer spending drives growth for third straight month

(Newser) - The economy grew at a solid 3.2% pace during the first quarter of this year as consumers boosted their spending by the most in three years. It marked the third straight quarterly gain, providing more hope that a recovery is in progress. Still, growth came in a tad shy...

As Sales Slump, Wal-Mart Cuts Prices

Watchers see ploy to hold on to middle class post-recession

(Newser) - Wal-Mart will discount around 10,000 items in the face of dipping sales, even as other retailers report increases in business. The move could be a ploy to hang on to middle-class shoppers, who flocked to the big-box behemoth in the depths of the recession but have been upgrading as...

What Price Love? $63.34 on Valentine's Day

Spending on spouses or partners is expected to drop

(Newser) - The recession hath made its mark on love, as an industry group expects Valentine’s Day spending to fall by about 6% this year compared to last. The National Retail Federation estimates someone in a relationship will spend $63.34 this year on their spouse or significant other, a drop...

Ignore Glimmers of Hope, Economy's Still in the Tank
Ignore Glimmers of Hope,
Economy's Still in the Tank
PAUL KRUGMAN
Jan 4, 2010 8:48 AM CST

Ignore Glimmers of Hope, Economy's Still in the Tank

If Obama takes his foot off the gas, it'll be 1937 all over again

(Newser) - Don’t believe the hype, ignore any rising GDP or employment figures, and whatever you do don’t call it a recovery—or we’re going to wind up right back where we started, argues Paul Krugman in the New York Times . There are indeed positive numbers coming, and with...

Credit Reform May Drain $9B in Holiday Sales

Consumer protections result in lower limits, less spending

(Newser) - The impending enactment of new credit card law is poised to rob retailers of $9 billion in holiday sales compared to last year. The law, designed to protect consumers from rates being raised on the sly and sneaky fees, already has led to lower credit limits and more rejected applications...

That Menu Is Playing With Your Mind, Wallet

Restaurants high and low use psychology to boost spending

(Newser) - In the recession, restaurants casual and white tablecloth alike are desperately updating one of their secret moneymakers: the menu. Numerous studies have concluded that customers spend more when items have sumptuous descriptions, a relative’s name is included, or, most importantly, the $ sign is banished entirely. Whether you can...

Dow Up 66 as Consumer Optimism Lifts Stocks

Retail sales beat expectations in November

(Newser) - Stocks ended today's session mixed, with the Dow posting solid gains. Alcoa saw a. 8% jump on an optimistic profit estimate by JPMorgan, and the University of Michigan/Reuters December consumer sentiment index beat expectations, the Wall Street Journal reports.
  • The Dow rose 65.67 points to close at 10,471.
...

Q3 GDP Growth More Like 2.8% Than 3.5%

 Q3 GDP Growth More 
 Like 2.8% Than 3.5% 
FUZZY MATH DEPT
Nov 24, 2009 9:29 AM CST

Q3 GDP Growth More Like 2.8% Than 3.5%

Spending and home prices are up, but not enough to help jobs

(Newser) - The government’s optimistic reading of GDP growth in the 3rd quarter was distorted by a pair of rose-tinted glasses, it now says. The Commerce Department has revised its estimate down to 2.8% from 3.5% on evidence that stimulus programs like Cash for Clunkers and the homebuyers' tax...

Forget the Rosy Stats: The Little Guy Is in Bad Shape
Forget the Rosy Stats:
The Little Guy Is in Bad Shape
Nouriel Roubini
Nov 18, 2009 1:34 PM CST

Forget the Rosy Stats: The Little Guy Is in Bad Shape

Economy far worse off than statistics indicate

(Newser) - Don’t believe the rosy official statistics; for most Americans, the economy is in incredibly bad shape, according to the economist some call “Dr. Doom.” We’re looking at a tale of two economies, Nouriel Roubini writes in the Globe and Mail . For top businesses, it’s recovering...

US GDP Jump Hollow if Unemployment Keeps Rising
US GDP Jump Hollow if Unemployment Keeps Rising
ANALYSIS
Oct 29, 2009 8:07 PM CDT

US GDP Jump Hollow if Unemployment Keeps Rising

... and it's still rising faster than before recession

(Newser) - News that the US gross domestic product jumped 3.5% in the third quarter cheered investors and others, but the cheers will ring hollow if unemployment keeps rising, John Authers writes. Consumer spending rose even as disposable income fell—“ not a pattern that can be sustained for long, and...

Women Drive Recovery, But Dissed By Retail

Biz approach to females: take 'a male product and paint it pink'

(Newser) - Women who shop til they drop are stimulating the economy more than any Ben Bernanke, but the planet's greatest spending bloc feels dissed by retailers and service providers. Women control $20 trillion in annual consumer spending in the world—a figure likely to climb to $28 trillion by 2014. Despite...

Supermarkets Slash Prices

 Supermarkets Slash Prices 
 
Sep 17, 2009 7:32 AM CDT

Supermarkets Slash Prices

Deflation stalks the aisles; Safeway cuts below profit point

(Newser) - Americans are getting a big break on the price of food, as the recession drives down the cost of wheat, milk, and other staples, and supermarkets fight feverishly for sales. After a year of dramatic increases, commodities are way down—the price of corn, for instance, is down 56% since...

Penny Pinching May Linger Long After Recession

Lasting change for once-insatiable American consumers?

(Newser) - The Great Recession is loosening its grip on Americans, but the spirit of thrift it inspired isn't, reports the New York Times. Consumer spending, which until recently accounted for 70% of US economic activity, looks unlikely to return to full steam as consumers emerge from the recession cramped by lower...

Lousy Retail Sales Will Delay Recovery

Recession isn't over as far as consumers are concerned

(Newser) - If the recession is indeed waning, nobody told consumers. Retailers of every kind reported lousy sales for the quarter ended Aug. 1, the Wall Street Journal reports. Target’s same-store sales fell 6.2%, Home Depot’s dropped 9.1% and Saks’ plummeted a whopping 15.5%. And with unemployment,...

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