consumer spending

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Financial Experts Warn of 'Spaving' Trend

Stories warn about the false promise of 'spending to save more' through supposed deals

(Newser) - Stores have been enticing shoppers to spend more so they can save more for ages, but in today's economy, financial experts warn that what's come to be known as "spaving" can backfire on one's finances. While the marketing ploy isn't anything new, CNBC , Fox Business...

'Monster' Stock Rally Sets Dizzying Record for the 1%

America's richest claimed collective net worth of $44T in Q4 of 2023, thanks to soaring stocks

(Newser) - By most objective measures, stocks are soaring of late, with the market on Thursday notching its best first quarter in five years. Who should be particularly stoked: America's richest 1%, a demographic that CNBC reports was able to claim a combined net worth of $44 trillion in Q4 of...

Holiday Sales Takeaway: 'The Consumer Showed Up'

Sales were up 3.1% in November and December

(Newser) - The holiday shopping season is in the books, and retailers will likely be relieved, the New York Times reports. Retail sales were up 3.1% compared to last year between Nov. 1 and Dec. 24, according to stats released by Mastercard SpendingPulse. "This holiday season, the consumer showed up,...

Online Shoppers, Today Is Your Big Day

With Black Friday, it's on to Cyber Monday, wrapping up 5-day Cyber Week for holiday shopping

(Newser) - Consumers are scouring the internet for online deals as they begin to cap off the five-day post-Thanksgiving shopping bonanza with Cyber Monday. Even though e-commerce is now part and parcel of our everyday lives and much of the holiday shopping season, Cyber Monday—a term coined back in 2005 by...

It's an Ugly Day on Wall Street
An Ugly Day on Wall Street
updated

An Ugly Day on Wall Street

Dow falls 764 points on weak consumer spending, fallout from Fed move

(Newser) - Ouch. The markets cratered at Thursday's opening bell and never recovered. A weak report on retail sales and worries that the Fed will keep raising rates were getting the bulk of the blame. For the day, the Dow fell 764 points, or 2.2%, to 33,202; the S&...

Americans Might Have to Spend Like Europeans
Americans Might Have
to Spend Like Europeans
opinion

Americans Might Have to Spend Like Europeans

Ever-increasing consumption isn't a sustainable model, Allison Schrager writes

(Newser) - The data back up the notion that the buying and selling of consumer goods drives the US economy. Two-thirds of the gross domestic product consists of household consumption. Especially when the economic going gets tough, Americans are urged to go shopping. But the system has hit a snag, with prices...

Amid Rising COVID Cases, a Bad Stat for the Economy

Consumers cut back on spending more than expected in July

(Newser) - Americans cut back on their spending last month as a surge in COVID-19 cases kept people away from stores, per the AP . Retail sales fell a seasonal adjusted 1.1% in July from the month before, the Commerce Department said Tuesday. It was a much larger drop than the 0....

New Data Suggest a Robust Recovery Is on the Way

Household income increases by a record amount in March, thanks to stimulus checks

(Newser) - The US saw the largest monthly increase in household income in March since government records began tracing that metric more than 60 years ago. The record 21.1% surge, following a 7% decline in February, came after President Biden signed a relief package that included $1,400 stimulus checks. Those...

We Just Saw an Unprecedented Plummet in Retail Sales

They were down 8.7% in March, and the reality is likely worse

(Newser) - US retail sales plummeted 8.7% in March, an unprecedented decline that came as the viral outbreak forced an almost complete lockdown of commerce nationwide. The deterioration of sales far outpaced the previous record decline of 3.9% that took place during the depths of the Great Recession in November...

Trump Won't Be Thrilled With His First GDP Numbers

It grew by 0.7% from January through March, slowest in 3 years

(Newser) - The US economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending, the AP reports. The result repeats a pattern that has characterized the recovery: lackluster beginnings to the year. The gross domestic product, the total output of goods and services,...

Odd V-Day Gifts From Around the World
Don't Waste Money on an
Aphrodisiac This V-Day
RUNDOWN

Don't Waste Money on an Aphrodisiac This V-Day

Carve a wooden spoon instead?

(Newser) - Stumped about what to get your sweetie for Valentine's Day? Do like the Welsh. For 350 years, Welsh men have been known to carve an intricate wooden spoon for their lover, according to Giftcloud . Not one to whittle? You can also take inspiration from Germans, who exchange gifts that...

Dow Breaks 18K for First Time
 Dow Breaks 18K for First Time 

Dow Breaks 18K for First Time

Plus consumer spending, business investment help US economy grow 5% in 3rd Q

(Newser) - The Dow Jones Industrial Average cruised past 18,000 for the first time ever today, the AP reports. The S&P 500 also broke records this morning, rising six points (0.3%) to 2,084. This followed on the heels of news that the US economy grew at a sizzling...

Household Debt Takes Biggest Leap Since 2007

And that might mean good things for the economy

(Newser) - US household debt spiked by $241 billion in the fourth quarter, up to $11.5 trillion, according to a new report from the Federal Reserve Bank of New York. It's the biggest increase seen since the financial crisis, and the first on a year-over-year basis. That might actually be...

Sorry, Ketchup, Americans Love Mayo More

Or, at least, our wallets do, new data shows

(Newser) - You put it on hot dogs, hamburgers, fries, and a whole slew of other stuff, but ketchup doesn't even come close to the king of condiments. That would be mayonnaise—$2 billion of which is sold in the US each year, compared with around $800 million of the red...

For First Time in 4 Years, Americans Borrowing More

Household debts up 0.3%, perhaps showing economy rebounding

(Newser) - American household debt rose in the fourth quarter of 2012, the first rise since 2008 when the recession was in full force, reports the Wall Street Journal . Debts rose 0.3% to $11.34 trillion, including $553 billion in new mortgages, the single biggest source of consumer debt. "There...

Retailers: Payroll Tax Hit Is Going to Hurt

Nearly half of consumers say they'll spend less: survey

(Newser) - Major retailers are preparing for customers with less cash in their pockets, thanks in part to the newly restored payroll tax, the Wall Street Journal reports. Rising gas prices aren't helping, either. Some 45.7% of consumers plan to spend less in the face of 2% lower take-home pay,...

US Retail Sales Rise 0.5%
 US Retail Sales Rise 0.5% 

US Retail Sales Rise 0.5%

Holiday sales indicate that no one was worried about fiscal cliff

(Newser) - US consumers increased their spending at retail businesses in December, buying more autos, furniture, and clothing. Steady job growth and lower gas prices kept consumers shopping for the holidays, despite worries about potential tax increases. The Commerce Department said today that retail sales rose 0.5% in December from November,...

Consumer Spending Jumps 0.8%
Consumer Spending
Jumps 0.8%

Consumer Spending Jumps 0.8%

It's the best report in 7 months, but outpaces income growth

(Newser) - Americans increased their spending in September at twice the rate their income rose, a sign of confidence in the economy. The Commerce Department says consumer spending increased 0.8% in September, the best showing since February. Personal income rose 0.4%, an improvement from a slight 0.1% gain in...

Consumer Spending Rises —Because Gas Is Up

Which means people might have to cut back elsewhere soon

(Newser) - Americans boosted spending in August even though their income barely grew. But much of the increase went to pay higher gas prices, a sign they may have to cut back elsewhere in coming months. The Commerce Department says consumer spending rose 0.5% in August from July, the biggest jump...

Coming to Cities: Mini Target, Petite Walmart

Major retailers open up tiny, urban-friendly outlets

(Newser) - Major chains are starting to think outside the big-box, at least where cities are involved. Stores like Walmart, Target, and Office Depot are willing to do what it takes to follow young adults who grew up in the 'burbs to their new urban homes, even if that means shrinking...

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