America’s economy grew 3.1% in 2023 amid continued consumer spending on vehicles and electronics. That’s according to figures released Thursday (Jan. 25) by the Commerce Department, which also showed the economy growing at 3.3% during the fourth quarter of the year. The findings show an increase in consumer...
Headline numbers reveal that the United States economy keeps growing, outpacing expectations. Although the pace of growth has been tempered a bit, there are some positive signs of consumers’ financial standing, and a long-awaited recession simply did not materialize. The questions remain, though, as to...
Headed into the new year, consumers are confident about the economy, and about overall trends in inflation. As reported by the University of Michigan’s survey of consumer sentiment, the latest reading came in a 78.8 for the month of January, which represents a 13% jump over...
The number of initial claims for unemployment benefits filed during the week ended Saturday (Jan. 13) was the lowest since Sept. 24, 2022. The number fell to 187,000 during the week ended Saturday, a total that was 16,000 lower than the previous week’s revised level...
Inflation’s been the main concern for merchants and consumers through the past few years. But as PYMNTS Intelligence data shows, inflation’s impact on retail, in real terms, is ebbing. Now, many other factors may wind up dampening the enthusiasm to open one’s wallet: Worries over...
Economic activity in the United States remained relatively stable from mid-November through December. While a majority of the 12 Federal Reserve Districts reported little or no change in economic activity, three noted modest growth, and one reported a moderate decline, the Federal Reserve said Wednesday...
U.S. lawmakers are engaged in discussions over a potential deal that could provide $70 billion worth of tax breaks for businesses and families. The proposal, which includes renewing expired business tax breaks and boosting the child tax credit, has the potential to provide an unexpected...
The good news: Economists are less confident the U.S. will see a recession. The less good news: They also expect the economy to grow at a much slower rate this year, The Wall Street Journal (WSJ) reported Sunday (Jan. 14). Economists surveyed by WSJ reduced the probability...
The Producer Price Index (PPI) declined for a third consecutive month in December. Final demand prices fell 0.1% in December after dropping 0.1% in November and 0.4% in October, in seasonally adjusted figures, the Bureau of Labor Statistics (BLS) said in a Friday (Jan. 12) press release. “The...
