consumer spending

A worker paints over a Louis Vuitton storefront, boarded up after the coronavirus outbreak, on March 30 in San Francisco.

The Rich Have Stopped Spending And That Has Tanked The Economy

9:24am June 17, 2020

by Scott Horsley

While retail sales bounced back in May after a deep drop in March and April, the wealthiest Americans are not spending as freely as they did before the pandemic. And that could limit the recovery.

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The U.S. economy shrank in the first quarter, as the coronavirus lockdown began. The April-to-June quarter is expected to be worse.

Economy

'Tip Of The Iceberg': Economy Shrinks At 4.8% Pace, But Worst Is Yet To Come

5:13pm April 29, 2020

by Scott Horsley

The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.

Consumer spending continues to be a main driver of economic growth, although consumers were a little more cautious in the final months of 2019.

U.S. Economic Growth Slowed In 2019 To 2.3%

10:58am January 30, 2020

by Scott Horsley

The Commerce Department says the U.S. economy grew 2.3% last year. That's slower than the previous year and well below the Trump administration's forecast.

President Trump is downplaying the odds of a recession, but he's also calling on the Federal Reserve to cut interest rates again.

Trump Dismisses Recession Fears, Saying Fed Must Help The Economy

7:21pm August 19, 2019

by Scott Horsley

The Trump administration pushed back hard against warnings of an economic slowdown. But the president is also calling on the Federal Reserve to cut interest rates again to help boost growth.

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Shoppers wait in line at a Target store in Newport, Ky., on Nov. 29, 2018. Strong consumer spending boosted analysts' economic growth forecasts for the first quarter of 2019.

U.S. Economy Powers Ahead In First Quarter: 3.2% Growth

8:46am April 26, 2019

by Scott Horsley

The Commerce Department says the U.S. economy picked up steam in the first three months of the year. GDP grew at an annual rate of 3.2% in the first quarter, up from 2.2% at the end of 2018,

The U.S. economy grew more slowly at the end of 2018 than initially thought. The revised numbers suggest somewhat lower spending by consumers.

Economy

Say It One More Time: The Economy Is Slowing

2:02pm March 28, 2019

by Scott Horsley

The U.S. economy grew more slowly at the end of 2018 than initially thought. "GDP growth is slowing from unsustainable rates," one economist says. The slowdown is expected to continue this year.

Retail sales fell 1.2 percent in December, the most in nine years. The drop cut into forecasts for economic growth.

Americans Tightened Their Belts And It Might Hurt Economic Numbers Important To Trump

5:46pm February 14, 2019

by Scott Horsley

What started off as a strong holiday shopping season ended with a whimper, as December retail sales posted the sharpest drop in nine years. That could mean GDP growth will miss the president's target.

Nearly three out of 10 online shoppers have taken the plunge to buy an item that costs $1,000 or more. Men are twice as likely as women to press click and buy a big-ticket item, according to a new NPR/Marist poll.

Online Big Spenders Tend To Be Men, NPR/Marist Poll Shows

2:45pm June 11, 2018

by Uri Berliner

Nearly 3 out of 10 online shoppers have taken the plunge to buy an item that costs $1,000 or more. Men are twice as likely as women to buy a big ticket item online, according to a new NPR/Marist poll.

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Consumers have been benefiting from lower gas prices. Here, prices dip below $2 per gallon at an Exxon station in Woodbridge, Va., on Jan. 5.

Why Cheap Gas Might Not Be Good For The U.S. Economy

1:34am January 29, 2016

by Chris Arnold

A drop in global oil prices saved U.S. drivers $100 billion last year. Good news, right? Not so, say some economists. The energy industry is now so big that cheap oil may actually hurt the economy.

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About one-third of households carry credit card debt over from month to month, down from 44 percent in 2009.

Watchdog: Consumers 'More Responsible' With Credit Card Debt

1:43pm August 12, 2015

by Susanna Capelouto

Before the Great Recession, many Americans piled up too much credit card debt. Now, they seem to be a little wiser about using plastic, says the head of the Consumer Financial Protection Bureau.

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