consumer spending

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Sales of Men's Undies Rebound With Economy

Analyst sees hope in unusual indicator's promising numbers

(Newser) - Amid mixed reports about recession and economic recovery, here's a bright spot: Men’s underwear sales are on the rebound. Believe it or not, that's a reliable indicator, because selling unmentionables is “such a need-based business that it really is a good indication that the consumer hasn't checked...

GDP Slows Descent, Falls Just 1%

(Newser) - The US economy contracted in the second quarter, but it was a mild decline that beat analyst estimates, Bloomberg reports. GDP fell 1%, less than the 1.5% economists predicted, and a heck of a lot less than the 6.4% and 5.4% drops seen in the two previous...

Stimulus Boosts Americans' Incomes
Stimulus Boosts Americans' Incomes
Jun 26, 2009 2:11 PM CDT

Stimulus Boosts Americans' Incomes

Consumers tuck funds away: Savings rate hits 16-year high

(Newser) - Incomes in the US got a big boost from federal stimulus dollars in May, the Commerce Department reported today. But weary consumers stashed most of that lucre away, sending the savings rate to a 16-year high. “Households are reverting to a more sustainable spending path vis-à-vis income,”...

Mortgage Rates Hit 3-Month High

Housing and consumer-spending rebound hopes endangered

(Newser) - Mortgage rates jumped to a three-month high yesterday, putting hopes for a rebound in the housing market and consumer spending at risk, the Wall Street Journal reports. The average 30-year fixed rate hit 5.44% from 5.29% the day before and 5.03% Tuesday. The rates make it tougher...

Recession Will End Next Quarter: Economists

(Newser) - If economists are right, the worst is over for the US economy. In a survey released today by the National Association for Business Economics, 74% of economists said the recession would end in the third quarter. But the coming recovery won’t be a strong one, they warned. Job losses...

Dow Off 184 on Consumer Woes
 Dow Off 184 on Consumer Woes 
MARKETS
May 13, 2009 3:09 PM CDT

Dow Off 184 on Consumer Woes

(Newser) - The ugly news on consumer spending cast a pall over Wall Street throughout today’s session, the Financial Times reports, pushing all three major indices down more than 2%. The unexpected dip in retail sales was particularly hard on retailers Target, Lowe’s, and Office Depot. The Dow finished off...

Experts Fret as Americans Squirrel Away Income

Savings rate jumps over job, portfolio fears

(Newser) - Even after the economy rebounds, the US will likely remain a nation of penny pinchers—and that has economists worried, the New York Times reports. Consumer spending accounts for 70% of the country’s GDP, but Americans, fretting over job security and losses in the housing and stock sectors, are...

Economy Shrinks Faster Than Expected in 1st Quarter

6.1% pace fueled by biz cutbacks, export drop

(Newser) - The US economy shrank at a worse-than-expected 6.1% pace at the start of this year as sharp cutbacks by businesses and the biggest drop in US exports in 40 years overwhelmed a rebound in consumer spending. Today's Commerce Department report dashed hopes that the recession's grip on the country...

Recession-Wary Teens Cut Back on Spending

Teens spend less on food, apparel while video games and DVDs still popular

(Newser) - The downturn is causing teens, who usually spend through recessions while parents absorb the pinch, to cut back, Advertising Age reports. Teenagers are spending about 14% less this spring than last, a “dramatic impact” from a demographic that spends an average of $125 billion each year. Unemployment is also...

Herd Mentality Moves Many to Needless Penny-Pinching

Psychology has everyone spending less, even those who don't need to

(Newser) - Amid the economic distress, many people who can spend as freely as they could before aren’t, the Washington Post reports. Such consumers, economists say, take psychological cues from friends and the media and pinching pennies needlessly—which only helps deepen the downturn. Upper-income consumers cut spending from $185 in...

Poll: Few Plan Splurges With Tax Refunds

More people than ever are just paying off bills

(Newser) - Taxpayers’ refund checks are starting to arrive, but this year the economy might not see much of a boost from that money, an AP poll finds. More people are planning to spend their refunds in some way, but 54% say they’ll pay off existing bills rather than go on...

Men's Skivvy Sales Spell More Trouble

Stimulus package or not, underwear metric indicates downturn

(Newser) - More bad news, this time from the men’s underwear department. One of former Fed chairman Alan Greenspan’s favorite metrics for predicting changes in consumer spending was the sales of men’s skivvies, the Huffington Post reports. It seems that sales are projected to decline 2.3% this year,...

Layoffs Will Trigger Layoffs: Economists

(Newser) - Unemployment has hit a 25-year high, but analysts say it will worsen as job cuts force consumers to cut back, triggering yet more payroll reductions, Bloomberg reports. Manufacturers, service providers, and even the US Postal Service are planning to lay off workers in the face of declining consumer demand. “...

Stressed Americans Still Spending Less: Poll

(Newser) - Americans are stressed about the economy and keeping their wallets shut, says a new ABC/Washington Post poll. While the number of Americans who say the economy is getting better is on the rise, that's not translating into shopping habits. Six in 10 say they feel stressed—half of those describe...

'Tentative' Signs Point to Healing US Economy

But changes on paper may take time to hit pockets

(Newser) - Next month, the US recession is set to become the longest since the Great Depression, but the Wall Street Journal, in the first up-beat prediction in months, musters “tentative” signs that things could be turning around. Consumer spending and sentiment rose in February, the housing market is looking more...

Some Spending Hard to Trim in 'Guilt Economy'

Many shell out to ensure favorite businesses survive

(Newser) - Charitable contributions are down in a tough economy—but that may not mean people are feeling less philanthropic. Feeling too guilty to let the masseuse go under or a favorite shop die, many who can afford it are spending in an effort to help those around them, the Wall Street ...

Retail Giants Likely to Shrink in '09

(Newser) - Retailers are fighting to survive in 2009, some more successfully than others. Some 73,000 stores could close their doors by year’s end. Forbes breaks down which chains are shrinking the fastest:
  • Ann Taylor: Catering to working women isn’t so great when unemployment’s at 8.1%. Expected
...

Recession Harbinger: Less Trash

(Newser) - The current recession was fairly clear to a certain segment of the population as far back as late 2007, the Washington Post reports—landfill operators. Since then, dumps and garbage collectors have seen a steep drop-off in trash—in some cases up to 30%—along with their own jobs. It's...

Drive Past the Body Shop: Sun Will Repair Scratches

New self-healing coating will save you money, time

(Newser) - The sun will soon be able to help repair the scratches on everything from iPods to cars. Researchers have developed a polyurethane coating that heals itself when exposed to UV radiation, Wired reports. The coating, which should be available in a few months, could save consumers money and reduce waste...

Consumer Spending Rises in Jan.

But experts don't expect boost to last

(Newser) - Consumer spending rose in January after falling for a record 6 consecutive months, pushed higher by purchases of food and other non-durable items. But the increase is expected to be fleeting given the problems facing the US economy. Spending rose 0.6% in January, better than the 0.4% gain...

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