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American consumers increased their spending by just 1.9 percent in July as the economic recovery from the coronavirus pandemic lost some momentum. Last month’s $267.6 billion jump in consumer spending beat economists’ expectations for a 1.5 percent gain even as growth slowed from a strong rebound in the prior two months, the US Commerce Department …
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Read More: Neiman Marcus to file for bankruptcy as soon as this week: sources US retail sales set another grim record amid coronavirus crisis Consumer spending plunges as Americans hoard cash amid coronavirus Retail sales surge record 18 percent as coronavirus lockdowns ease
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US consumer spending took a record nosedive last month as Americans hoarded cash during the coronavirus pandemic, new data show. Personal consumption spending tumbled 13.6 percent in April, marking the largest drop since the feds started tracking the figure in 1959, the US Department of Commerce said Friday. The US savings rate, however, soared to …
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US consumer confidence plunged in April as millions lost their jobs and there was an unprecedented deterioration of an index that monitors their attitudes about current business and work conditions. The Conference Board said Tuesday that its confidence index tumbled to a reading of 86.9, the lowest level in nearly six years and down from …
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A group of 32 US states have a message for the nation’s leading online platforms: You are not doing enough to stop price gouging amid the coronavirus crisis. In a letter sent on Wednesday to Amazon, Walmart, Facebook and eBay, a bipartisan group of US attorneys general outlined specific steps it wants the online platforms …
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Electronics stores, coffee chains and even local authorities in China are slashing prices and handing out millions of dollars worth of discount coupons to kick-start an economy battered by gradually easing virus-fighting restrictions on movement. GOME Retail Holdings and Suning.com plan to hand out over 620 million yuan ($88 million) worth of vouchers, while Alibaba’s …
American consumers increased their spending by just 1.9 percent in July as the economic recovery from the coronavirus pandemic lost some momentum. Last month’s $267.6 billion jump in consumer spending beat economists’ expectations for a 1.5 percent gain even as growth slowed from a strong rebound in the prior two months, the US Commerce Department …
