Consumer spending
The U.S. economy grew at a 2.9% annual rate from July through September despite high interest rates and chronic inflation, the government said Wednesday in an upgrade from its initial estimate.
A look at some of the key business events and economic indicators upcoming this week:
CONFIDENCE CHEC
CONFIDENCE CHEC
The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of contraction and overcoming high inflation and interest rates just as voting begins in midterm elections in which the economy’s health has emerged as a paramount issue.
What keeps driving inflation so high? The answer, it seems, is nearly everything. Supply chain snarls and parts shortages inflated the cost of factory goods when the economy rocketed out of the pandemic recession two years ago.
What keeps driving inflation so high? The answer, it seems, is nearly everything. Supply chain snarls and parts shortages inflated the cost of factory goods when the economy rocketed out of the pandemic recession two years ago.
Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials.
The head of the European Central Bank says the economic outlook “is darkening” and she expects business activity to “slow substantially” in the coming months as high energy and food prices pushed up by the war in Ukraine sap consumer spending power.
A look at some of the key business events and economic indicators upcoming this week:
HOUSING MARKET BELLWETHER
HOUSING MARKET BELLWETHER
Chinese official data show consumer spending and factory output improved in August but were still weak.
A look at some of the key business events and economic indicators upcoming this week:
HOUSING MARKET BELLWETHER
HOUSING MARKET BELLWETHER
China’s central bank has trimmed a key interest rate to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is believed to be trying to extend his hold on power.
Japan has reported its economy grew at an annual rate of 2.2% in the last quarter as consumer spending rebounded with an easing of pandemic precautions.
Best Buy has cut its annual sales and profit forecast, citing surging inflation that has dampened consumer spending on gadgets.
Conflicting signs about the health of the U.S. economy have thrust the Federal Reserve into a difficult spot.
Christopher Waller, a member of the Federal Reserve’s Board of Governors, said Thursday that he would be open to supporting a huge 1 percentage point increase in the Fed’s key short-term interest rate later this month if upcoming economic data points to robust consumer spending.
A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April.
The U.S. economy shrank at a 1.6% annual pace in the first three months of the year even though consumers and businesses kept spending at a healthy pace, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter.
A look at some of the key business events and economic indicators upcoming this week:
HOME PRICE MONITOR
HOME PRICE MONITOR
China’s factory output rebounded in May, adding to a recovery from the latest economic slump induced by COVID-19 curbs.
An inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, just below a four-decade high set in March and the first slowdown since November 2020.
NEW YORK (AP) — The fastest inflation in 40 years squeezed retailers during the first quarter, alarming investors worried about the broader economy’s outlook.
An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy.
The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4% annual rate, but consumers and businesses kept spending in a sign of economic durability.
A look at some of the key business events and economic indicators upcoming this week:
HOUSING MARKET BELLWETHER
HOUSING MARKET BELLWETHER
The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates.
A look at some of the key business events and economic indicators upcoming this week:
IN THE RED
Online pet store Chewy reports its fiscal fourth-quarter results Tuesday.
IN THE RED
Online pet store Chewy reports its fiscal fourth-quarter results Tuesday.
Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.
The annual meeting of China’s mostly ceremonial legislature usually showcases grand, long-term plans.
An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine.
NEW YORK (AP) — As CEO of Bank of America since 2010, Brian Moynihan has been largely credited with rebuilding the bank after the Great Recession and financial crisis.
Japan has reported its economy grew at a 5.4% annual pace in the last quarter, helped by improved consumer spending and exports.