U.S. Consumer Spending Plunges Record 7.5%
The March decline in spending "is the tip of the iceberg. The worst is yet to come with the April data.”
U.S. GDP Sinks 4.8% As Virus Ends Expansion
“If the economy fell this hard in the first quarter, don’t ask how far it will crater in the second quarter because it is going to be a complete disaster."
U.S. Retail Sales Plunge Record 8.7% in March
With coronavirus lockdowns starting only in the middle of March, "far worse is to come in April and the second quarter more generally."
Democrats Balk at Trump Payroll Tax Proposal
“What they want to do is hit Social Security like a wrecking ball with a massive tax cut for the country’s biggest corporations."
U.S. Consumer Spending Increases 0.2% in January
“Consumers shielded the economy from global headwinds for most of 2019 but they won’t prove immune to the coronavirus outbreak."
U.S. Economy Posts Smallest Annual Gain Since 2016
“Certainly, the economy isn’t firing on all cylinders, but it also doesn’t appear to be at risk of stalling out either.”
China GDP Growth Rate Slows to 6.1% in 2019
China's economy is "under pressure from weak consumer spending, rising unemployment and problems in the financial system."
Consumer Spending Rises 0.4% in November
“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."
U.S. Economic Growth Slows to 1.9% in Q3
“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.”
Consumer Spending Rises Only 0.1% in August
With income outpacing expenditures, consumers may have "a good amount of cushion to sustain spending if or as the economy slows."
U.S. Consumer Spending Surges 0.6% in July
“The consumer is still very sturdy and providing fundamental strength to the overall economy,” an economist says.