Aug 29 U.S. economic growth revised up to solid 3 percent annual rate for second quarter of 2024 By Paul Wiseman, Associated Press The U.S. economy grew last quarter at a healthy 3 percent annual pace, fueled by strong consumer spending and business investment, the Department of Commerce said Thursday in an upgrade of its initial assessment. Continue reading
Aug 15 Americans spent more at retailers in July despite higher prices By Christopher Rugaber, Anne D'Innocenzio, Associated Press Americans stepped up spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates. Continue reading
Feb 26 Forecasters raise expectations for 2024 U.S. economy By Associated Press The economy looks set to grow 2.2% this year after adjusting for inflation. That’s up from an earlier forecast of 1.3%. Continue reading
Nov 29 U.S. economic growth for last quarter is revised up to a 5.2 percent annual rate By Paul Wiseman, Associated Press Shrugging off higher interest rates, America's consumers spent enough to help drive the economy to a brisk 5.2 percent annual pace from July through September, the government said in an upgrade from its previous estimate. Continue reading
Nov 27 Consumers projected to spend around $12 billion on Cyber Monday By Haleluya Hadero, Associated Press Consumer spending for Cyber Week - the five days between Thanksgiving and Monday - provides a strong indication on how much shoppers are willing to spend during the holidays. Continue reading
Nov 24 Retailers step up Black Friday deals to with consumers on tighter budgets in mind By Anne D'Innocenzio, Associated Press Consumers are coming under pressure as their savings dwindle and their credit card debt grows. Despite some relief from easing inflation, many goods and services like meat and rent are still far higher than they were just three years ago. Continue reading
Oct 27 U.S. consumers keep spending even in the face of persistent inflation and high interest rates By Christopher Rugaber, Associated Press An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth. Continue reading
Oct 06 Watch 5:43 Job growth defies expectations but questions remain about overall health of economy By Paul Solman, Shoshana Dubnow The strength of the jobs market stunned again with a report surpassing most expectations. Employers added 336,000 jobs in September while unemployment remained at 3.8 percent. We also learned that nearly 120,000 more jobs were created in July and August… Continue watching
Aug 31 Watch 8:27 U.S. Commerce Secretary discusses trip to China amid military and economic tensions By Nick Schifrin, Dan Sagalyn, Zeba Warsi This week, Commerce Secretary Gina Raimondo became the latest high-ranking U.S. official to visit China and engage with top Chinese leadership. She went during a time of security and trade tensions between the two global giants and China's ongoing economic… Continue watching
Jun 30 A Federal Reserve inflation index falls to lowest level in 2 years By Christopher Rugaber, Associated Press At the same time, consumers barely increased their spending last month, boosting it just 0.1%, after a solid 0.6% gain in April. Continue reading