Business Report: Flat consumer spending
Clip: 10/14/2022 | 4m 27s | Video has closed captioning.
New numbers Friday show consumer spending was flat in September, which was below expectations. Shoppers pulled back on big-ticket purchases of cars, electronics, appliances and furniture. With costs rising for the basic necessities, like food and shelter, there’s less left over to spend. Rutgers professor James Hughes is forecasting a recession early next year.
Problems Playing Video? | Closed Captioning