“Consumers shielded the economy from global headwinds for most of 2019 but they won’t prove immune to the coronavirus outbreak."
“Certainly, the economy isn’t firing on all cylinders, but it also doesn’t appear to be at risk of stalling out either.”
The Trump administration says reporters' use of computers in secure lockup rooms can give high-speed traders a "head start" on market-moving news.
“Despite the late start to the holiday season, U.S. consumers were in a festive mood, suggesting the backbone of the economy remains rock solid."
The sharp downward revision suggests inflation will continue to run below the Federal Reserve’s 2% target.
“There is something of a tug-of-war going on between consumers, who continue to spend, and businesses, which have sharply pulled back on investment.”
Ahead of this week's trade talks between the two countries, the timing of the U.S. action "is going to be awkward for the Chinese."
With income outpacing expenditures, consumers may have "a good amount of cushion to sustain spending if or as the economy slows."
“The consumer is still very sturdy and providing fundamental strength to the overall economy,” an economist says.
The government's second estimate of GDP showed a rebound in corporate profits as businesses benefited from strong consumer spending.
Sales increased 0.7% in July, "a reassuring sign for a U.S. economy that’s facing mounting hurdles."
"The trend in durable goods orders remains decidedly weak" amid worries about a global growth slowdown and trade tensions.
