The latest data on personal consumption notes that spending is outpacing the growth in disposable income. And as a result, consumers are dipping into savings to keep their spending apace. The latest personal income expenditures (PCE) price index from the Bureau of Economic Analysis indicates...
And now it seems the slowdown is here. Markets slumped by more than 1% Thursday morning (April 25) on the latest reading on gross domestic product (GDP) growth, courtesy of the Bureau of Economic Analysis — which we note is an advance estimate of first-quarter...
JPMorgan Chase CEO Jamie Dimon reportedly said Tuesday (April 23) that the U.S. economic boom is “unbelievable.” Speaking at an event at The Economic Club of New York, Dimon said employment is strong, consumer finances are healthy, and consumers would still be in good shape even if the economy...
The number of initial claims for unemployment insurance filed during the week ended Saturday (April 13) was unchanged from the previous week’s revised figure of 212,000. The previous week’s figure was revised up by 1,000, the Department of Labor (DOL) said in a Thursday (April 18) press release. The four-week...
Eight times each year the Fed publishes what’s known as the Beige Book — a qualitative take from each of the 12 federal bank districts. The assessments cover everything from auto loans to commercial real estate, and critically, a broad assessment of the state of...
The old adage goes, “March comes in like a lion and goes out like a lamb.” However, for consumer spending, it looks like March came in like a lion and stayed there. Both the U.S. Department of Commerce and PYMNTS intelligence data showed consumers spending more despite...
Retail sales climbed higher than anticipated in March, fueled in part by a jump in eCommerce. Data released Monday (April 15) by the U.S. Department of Commerce showed retail sales rising 0.7% month over month, and 4% since last year. The 0.7% figure exceeded the 0.3%...
The wealth effect giveth, and it taketh away. This week’s stock market volatility, and especially Friday (April 12)’s plummet in the wake of big bank earnings, shines a light on the value of stock market holdings. Specifically, it highlights who holds those holdings, and what...
U.S. wholesale inventories rose 0.5% in February compared with January. When compared with February 2023, these total inventories declined 1.5%, the U.S. Census Bureau said in a Wednesday (April 10) press release. The monthly rise in wholesale inventories was expected by economists polled by Reuters, the media outlet reported Wednesday....
