consumer spending – News Stories About consumer spending - Page 8

GDP Grows at 3.9% Clip Despite Housing Crunch

Oct 31, 2007 11:27 AM CDT

GDP Grows at 3.9% Clip Despite Housing Crunch

GDP tops estimates on increased consumer spending

(Newser) - The US economy grew at a brisk 3.9% pace in the third quarter despite the credit and housing turmoil buffeting Wall Street, according to Commerce Department figures released today. Overall construction spending was up—with record commercial and government spending offsetting the housing slide—while individuals increased spending 3%...

Middle-Class Squeeze Is
No Illusion

Oct 16, 2007 6:19 PM CDT

Middle-Class Squeeze Is No Illusion

Don't blame frivolous spending, experts say; expenses really are up

(Newser) - The proliferation of Starbucks and designer jeans is a red herring—today's middle class has less spending money than ever, says a Harvard law professor. People can buy more stuff because prices are down, but that provides a skewed picture. "These are things you don't see at the mall:...

Housing Slump Dampens '08 Prospects

Oct 10, 2007 12:38 PM CDT

Housing Slump Dampens '08 Prospects

Economists cut growth forecast; still predict better rate than '07

(Newser) - Economists cut projections for 2008 growth for a third consecutive month, Reuters reports, signaling the fallout from mortgage woes will be widespread and prolonged. A survey of 52 experts estimated the economy would expand 2.4% next year; they’d predicted 2.6% growth last month and 2.8% the...

Consumer Confidence Plummets

Sep 25, 2007 1:57 PM CDT

Consumer Confidence Plummets

Metric falls more than predicted on job fears, market turmoil

(Newser) - American consumers might need to be talked off some ledges, judging from consumer confidence numbers out today, which indicate continuing worry over employment and stock market unrest. The crucial figure—99.8, compared to 105.6 in August—is the lowest since 2005, the Conference Board says. Economists had expected...

Expected Fed Rate Cut Could Halt Crisis

Sep 17, 2007 3:49 AM CDT

Expected Fed Rate Cut Could Halt Crisis

Wall Street counting on help to boost falling stock prices

(Newser) - What happens next in the volatile world stock markets could depend on Federal Reserve chief Ben Bernanke. The Fed is expected to cut the interest rates banks charge each other for overnight loans, currently 5.25%. It would make loans cheaper, boost consumer spending, revive stock prices and ultimately, prevent...

Jobless Claims Rise, but Economists See Silver Lining

Sep 13, 2007 1:45 PM CDT

Jobless Claims Rise, but Economists See Silver Lining

Figures lower than expected as labor market deals with volatility

(Newser) - First-time applications for jobless claims rose last week, but economists are encouraged that the figures were less than expected, Bloomberg reports today. Claims grew by 4,000 to 319,000—still well short of the 325,000 applications expected. The numbers suggest that the labor market isn’t collapsing, despite...

Consumer Confidence Plummets

Aug 17, 2007 5:37 PM CDT

Consumer Confidence Plummets

Wall Street woes might be spreading to Main Street

(Newser) - Consumer confidence dropped dramatically in August, according to the latest index released by Reuters and the University of Michigan. The metric places consumer sentiment at 83.3, the lowest reading of the year, and well below the predicted 88.0. It may be a sign that chaos on Wall Street...

Inflation Softened in July

Aug 15, 2007 9:52 AM CDT

Inflation Softened in July

Housing slump, fuel prices weaken spending

(Newser) - Consumer prices in the US in July rose at the slowest rate in eight months. The housing slump—and fuel costs—have weakened consumer spending considerably, forcing retailers to slash prices, Bloomberg reports. Prices rose only rose 0.1% in July, as predicted by analysts. Yields of U.S....

Jobless Rate Rises While
GDP Rebounds

Aug 3, 2007 12:44 PM CDT

Jobless Rate Rises While GDP Rebounds

Economic growth balances looming threat of inflation

(Newser) - The unemployment rate increased slightly in the second quarter, but the GDP recovered after a lackluster first quarter, providing Wall Street with a mixed report card of the nation’s economy as the Fed meets to determine interest rates. Unemployment ticked up 0.1% to 4.6%, hastened by losses...

5 Reasons to Think Bearish

Jul 22, 2007 8:29 AM CDT

5 Reasons to Think Bearish

Despite record growth, Wall Street has plenty of cause for concern, Business Week says

(Newser) - Wall Street is giddy with low unemployment, optimistic earnings predictions, and a resilient economy, but BusinessWeek lists five things for investors to worry about.

Volatility in earnings, especially tech companies
Consumer spending, as gas prices take their toll
Inflation, which could prompt the fed to raise interest rates
Subprime aftereffects,

...