Why this economy may be sturdier than it looks
U.S. GDP shrank in the first few months of the year, but the economy may be sturdier than it looks.
consumer spending
Inflation hits another 40-year high. The war in Ukraine could make it worse
Annual inflation climbed to a new four-decade high in February, with consumer prices up 7.9% from a year ago. The increase does not reflect most of the recent jump in gasoline prices.
'So Exciting To Be Working Again': Americans Are Going Out, Boosting Jobs
Newly vaccinated Americans are spending more freely on restaurants, travel and live entertainment. That should give a boost to pandemic-scarred service industries.
Flush With Cash, Americans Are Buying Everything From iPhones To Teslas
Personal income jumped by a record 21% last month, largely thanks to those $1,400 relief payments. The extra cash helped fuel a jump in spending that should continue in the months to come.
Shopping And Shots Power An Economy Heading To Its Fastest Growth Since 1984
The U.S. economy grew at a rapid pace in the first three months of the year as more people got vaccinated and the federal government pumped hundreds of billions of dollars into people's pockets.
A Sign Of Hope After 'Winter Hibernation': Employers Add 379,000 Jobs
Meanwhile, the unemployment rate dipped to 6.2% last month as the winter wave of coronavirus infections eased.
A Bicycle. A Trip. Or Just Pants: The Things We Buy When Pining For Normal Times
Even the most mundane purchases are becoming objects of hope as we crave the routines and experiences of daily life in this period of isolation.
As Economic Recovery Slows, Fed Sees Many Risks And Pledges Full Support
The Federal Reserve left interest rates near zero Wednesday and pledged it was ready to use all of its available tools to support an economic recovery that appears to be weakening.
Rebound In Consumer Spending Fades In July
Consumer spending rose 1.9% last month — but the rebound slowed from May and June. Unemployment benefits continued to prop up spending in July, but that may change in August.
Wallets Are Already On Lockdown: People Pare Spending As Sunbelt Cases Surge
People aren't waiting for governors or mayors to make the decision for them. Real-time data show they cut back on spending when they're worried about being infected with the coronavirus.