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Keyword: consumerspending

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  • Consumers Slash Spending Growth Expectations to Lowest Level in Fed’s Data

    05/10/2017 8:15:48 AM PDT · by Lorianne · 9 replies
    Wolf Street ^ | 08 May 2017 | Wolf Richter
    Consumer spending – not just retail but also healthcare, housing, tuition, and so on – accounts for 69% of the US economy. Decent economic growth without growth in consumer spending is practically impossible. That’s why everyone is watching consumers. And everyone is praying that they’ll spend. They’ll have to spend above the rate of inflation for “real” growth (adjusted for inflation) to happen. But that might not be happening over the next 12 months, according to the selfsame consumers. This isn’t from a wayward blogger spreading some kind of homemade doom-and-gloom gospel, but the New York Fed. It just released...
  • Consumers shutting down as US economy deflates

    10/15/2015 9:16:50 AM PDT · by Lorianne · 91 replies
    CNBC ^ | 14 October 2015 | Jeff Cox
    The math is pretty simple: A lack of purchasing power for consumers has led to a lack of pricing power for companies. When it comes to the U.S. economy big-picture outlook, the ramifications are more complicated, and not particularly pleasant. Wednesday's producer price index reading, showing a monthly decline of 0.5 percent, demonstrates a larger problem: At a time when policymakers are hoping to generate the kind of inflation that would indicate strong growth, the reality is that deflation is looming as the larger threat. Declining prices often would be treated as a net positive by consumers, but income weakness...
  • US consumer finally losing the will to shop

    10/15/2015 12:30:21 AM PDT · by SaveFerris · 37 replies ^ | Last updated: October 15, 2015 12:08 am | James Mackintosh
    Overall sales growth below forecasts and sales excluding cars and petrol flat When the going gets tough, investors have grown used to betting on the tough going shopping. Every wobble of the past few years saw the consumer ignoring currency collapses, geopolitics and even government brushes with bankruptcy, and instead heading for the mall. The same has been true this year. The best-performing stocks in the US, UK and eurozone are in the defensive consumer staples and the racier consumer discretionary sectors. Almost no other sectors managed to make money, at least in dollar terms. Even in emerging markets, over...

    06/04/2015 12:04:46 PM PDT · by Wiz-Nerd · 28 replies
    WSJ ^ | June 2, 2015 | Jon Hilsenrath
    Dear American Consumer, This is The Wall Street Journal. We’re writing to ask if something is bothering you. The sun shined in April and you didn’t spend much money. The Commerce Department here in Washington says your spending didn’t increase at all adjusted for inflation last month compared to March. You appear to have mostly stayed home and watched television in December, January and February as well. We thought you would be out of your winter doldrums by now, but we don’t see much evidence that this is the case. You have been saving more too. You socked away 5.6%...
  • Japan’s economy shrinks as tax hike hits spending

    08/12/2014 10:26:58 PM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Aug 13, 2014 1:00 AM EDT | Yuri Kageyama
    The Japanese economy shrank at an annual pace of 6.8 percent in the second quarter after spending got slammed by a sales tax hike that kicked in from April, government figures showed Wednesday. Japan’s gross domestic product, or the total output of goods and services, also contracted 1.7 percent during the April-June period from the previous quarter. The decline in GDP was the worst since the March 2011 tsunami and quake disaster in northeastern Japan. In the first quarter of 2011, Japan’s economy shrank at an annual rate of 6.9 percent. The weak figures were expected as consumers and businesses...
  • Their Economy Will Collapse, Including Ours

    07/29/2014 8:22:41 AM PDT · by SovereignSociety · 37 replies
    Economy and Markets ^ | July 28, 2014 | Harry Dent
    Central bankers think they can keep their economy going by artificial stimulus until they hit escape velocity and grow at normal rates again — but they’re wrong. Here at Dent Research we hold a different view to what drives the economy. And central bankers are in for three big surprises ahead. Their economies are NOT going to grow the way they’re hoping, at least not until the early 2020s, thanks to declining demographic cycles and unprecedented debt ratios. But the surprises I’m talking about are going to come out of left field and slam unexpectedly and so fast into these...
  • Dismal U.S. Consumer Spending to Drag Us Back into Recession?

    06/29/2013 10:29:46 AM PDT · by abbyjoseph · 24 replies
    Profit Confidential ^ | 28/06/2013 | Michael Lombardi
    While the mainstream economists were quick to believe that the U.S. economy is growing as the key stock indices suggest, I stood by my opinion that it isn’t. After the first estimates of gross domestic product (GDP) for the U.S. economy came out, a wave of optimism struck and stock markets rallied. It seemed as if everything was headed in the right direction. Sadly, they were wrong. In its third and final revision of GDP, the Bureau of Economic Analysis (BEA) reported that the U.S. economy grew at just 1.8% in the first quarter of 2013 from the fourth quarter...
  • JPMORGAN: The 'Slowdown In Consumer Spending Has Arrived'

    03/05/2013 11:49:07 AM PST · by blam · 7 replies
    TBI ^ | 3-5-2013 | Matthew Boesler
    JPMORGAN: The 'Slowdown In Consumer Spending Has Arrived' Matthew BoeslerMarch 3, 2013TheRealMichaelMoore / Flickr Last week's release of personal spending data revealed that spending rose 0.2 percent in February, at the same pace as in January. When adjusted for inflation, though, the data are less encouraging. In a note to clients, JPMorgan economist Robert Mellman declares that the "consumer spending slowdown is here," saying consumers are beginning to feel the effects of the payroll tax cut expiry and rising gas prices. Mellman writes: Slowdown in consumer spending has arrived: The first-round effects of the tax increases should mainly affect consumer...
  • Retailers hopeful as Black Friday sales rise 7%

    11/27/2011 10:50:46 AM PST · by Rational Thought · 13 replies ^ | 11/27/2011 | The Associated Press
    The holiday shopping season got off to a strong start on Black Friday, with retail sales up 7 percent over last year, according to the most recent survey. Now stores just have to keep buyers coming back without the promise of door-buster savings. Buyers spent $11.4 billion at retail stores and malls, up nearly $1 billion from last year, according to a Saturday report from ShopperTrak. It was the largest amount ever spent on the day that marks the beginning of the holiday shopping season, and the biggest year-over-year increase since 2007. Chicago-based ShopperTrak gathers data from 25,000 outlets across...
  • Holiday Shopping Begins With Anxious Consumers, Retailers

    11/24/2011 10:07:28 AM PST · by Rational Thought · 8 replies
    CNBC ^ | 11/24/2011 | Reuters
    The holiday shopping season starts in earnest on Thursday, with retailers anxious to see if U.S. consumers are willing to spend despite an endless stream of scary headlines about the fragile economy and their own precarious finances. However, in the eyes of retailers, the shopping period has been churning along for some time as retailers like Walmart Stores [WMT 56.64 -0.21 (-0.37%) ] and Toys R Us started early by offering layaway programs, and others offering major deals to lure shoppers. These incentives have increased the stakes for retailers, and when Americans are done with their turkey dinners on Thursday,...
  • BofA chief meets top US officials - WSJ

    08/11/2011 9:51:05 PM PDT · by Nachum · 19 replies
    Reuters ^ | 8/12/11 | Sakthi Prasad in Bangalore
    Aug 12 (Reuters) - Bank of America Chief Executive Brian Moynihan met privately this week with Treasury Secretary Timothy Geithner and Federal Reserve governor Daniel Tarullo amid the campaign to calm investors and employees about the bank's share price fall, the Wall Street Journal reported. The separate meetings took place on Wednesday in Washington, the WSJ said, citing people familiar with the situation. The intent of the meetings with the two top federal officials was for Moynihan to discuss issues related to housing, consumer spending and the U.S. economy, two people familiar with the meetings told the Journal.
  • Consumer spending set to restrain second-quarter growth (Obama's Summer Of No Recovery, Version 3.0)

    06/27/2011 10:15:29 AM PDT · by tobyhill · 7 replies
    Yahoo ^ | 6/27/2011 | Reuters
    Consumer spending was flat in May, breaking a string of 10 straight months of gains, as households struggled with rising prices and automakers failed to deliver the models Americans wanted. When adjusted for inflation, spending slipped 0.1 percent, the Commerce Department said on Monday, falling for a second straight month. The report, which showed underlying inflation quickening, suggested that consumer spending would offer little support to the economy in the second quarter. In the first three months of the year, it advanced at a modest 2.2 percent annual rate. Consumer spending, which accounts for 70 percent of U.S. economic activity,...
  • Americans spend at weakest pace in 20 months

    06/27/2011 6:06:27 AM PDT · by Bigtigermike · 21 replies
    AP ^ | Monday June 27, 2011 | Christopher S. Rugaber
    WASHINGTON (AP) -- Americans spent at the weakest pace in 20 months, a sign that gas prices are taking a toll on the economy. Consumer spending was unchanged in May, the Commerce Department said Monday. That was the worst result since September 2009. And when adjusted for inflation, spending actually dropped 0.1 percent. April's consumer spending figures were revised to show a similar decline when adjusting for inflation. That marked the first declines in inflation-adjusted spending since January 2010. Incomes rose 0.3 percent for the second straight month. But adjusted for inflation, after-tax incomes increased only 0.1 percent in May,...
  • Weak data point to sluggish economy

    05/31/2011 1:43:43 PM PDT · by mdittmar · 6 replies
    Reuters ^ | May 31, 2011 | Leah Schnurr
    A double-dip in home prices, pessimistic consumers and a slowdown in regional manufacturing raised concerns on Tuesday that the economy's soft patch could become protracted. "The question is, 'Is the softer data we're seeing transitory, or is it likely to persist throughout the remainder of 2011?' Right now, that's an open question that investors are trying to figure out," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.The U.S. economy grew at a tepid 1.8 percent annual rate in the first three months of the year, and these fresh signs suggest the recovery is still struggling to...
  • Reason for Optimism: It's A Self-Sustaining Recovery (Consumers buying more, productivity strong)

    11/30/2010 6:59:23 AM PST · by SeekAndFind · 22 replies
    Forbes ^ | 11/30/2010 | Brian Wesbury and Robert Stein
    In the four months between June and October, retail sales surged 10.2% at an annual rate and are up 7.3% over the past 12 months. Still, consumers get no respect from the majority of analysts and economists, who during the summer and early fall, could not stop talking about a double-dip recession. But instead of going wobbly, consumers seem to be standing strong. ComScore ( SCOR - news - people ) says online sales vs. last year were up 28% on Thanksgiving Day, 9% on Black Friday and 13% so far in November. Coremetrics, another online data gatherer, reports sales...
  • Gallup Consumer Spending Data Refutes Commerce Department January Retail Sales Announcement

    02/12/2010 10:52:37 AM PST · by Cheap_Hessian · 9 replies · 501+ views
    ZeroHedge Blog ^ | February 12, 2010 | Tyler Durden
    As if anyone needed more reasons to doubt the data coming out of our government. Earlier today the Commerce Department reported that January retail sales data came at a nice and bubbly 0.5% sequential increase, and an even nicer and bubblier 4.7% YoY. This presumably beat expectations which were looking for a sequential beat of 0.3%. Yet here comes the much more reliable Gallup data to throw some salt in yet another economic data fabrication. According to daily Gallup consumer polling, which due to its lack of proximity to the government propaganda complex is vastly more reliable, the January average...
  • "Nothing Sways the Stupid More Than Arguments They Can't Understand."

    10/30/2009 8:53:08 AM PDT · by timesthattrymenssouls · 4 replies · 363+ views
    Constitutional Guardian ^ | 10/30/2009 | Nancy Tengler
    Consumer Spending is Down Proving my Point on the Elusive Recovery “Nothing sways the stupid more than arguments they can't understand” Cardinal de Retz Yesterday, the politicians were falling all over themselves to claim credit for the third quarter GDP growth of 3.5%, claiming the growth was proof the Administration's stimulus plan had worked. The President claimed,“the steps we’ve taken have made a difference.” Whoa there Big Fella. As I reminded yesterday, the GDP growth was fueled by the Cash for Clunkers program which was borrowing demand from the future as consumers scrambled to make auto purchases before the...
  • How To Stimulate Consumer Spending And Jumpstart The Economy

    09/18/2009 12:08:32 PM PDT · by sanserve · 8 replies · 672+ views
    California Chronicle ^ | Sept 18th 2009 | Steve Selengut
    The current methodology is simple: it takes money out of our pockets (and our employers) puts it though governmental blenders, and spits out a meager benefit at retirement. Why not let the private sector provide pension benefits to all employees under the direction of a trimmed down Social Security bureaucracy?
  • Wealthy Americans Unholster Their Weapons

    08/09/2009 10:54:48 AM PDT · by Kaslin · 212 replies · 7,834+ views ^ | August 9, 2009 | Dan Kennedy
    The resistance is well underway. Affluent Americans – defined as the top 20 percent of U.S. households by income – spent about 10 percent less in 2008 than they did in 2007, according to a study by luxury-goods researcher Unity Marketing. And those households with incomes of $250,000 or more are cutting back on spending even more than all affluent households overall. 54 percent of these consumers are spending even less in 2009 than in 2008. Those $250,000+ earners, threatened and demonized by President Obama, are retaliating with their most powerful and damaging weapon: not spending. It is a quiet,...
  • Higher Prices Pushed Up Consumer Spending for June

    08/05/2009 10:49:07 AM PDT · by Cheap_Hessian · 13 replies · 444+ views
    The New York Times ^ | August 4th, 2009 | Jack Healy
    The broader economy may be testing the bottom, but for American consumers, there appears to be no end yet in sight for falling wages and higher living expenses. That was the picture painted Tuesday by the government’s monthly report on personal incomes and consumer spending. While consumers spent more in June, they did so because prices of food and energy were rising, and not because they were ready to spend freely again. Personal incomes sagged as employers continued to cut wages and reduce working hours. And the personal saving rate, which had been rising, dropped sharply from a month earlier...