Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with Bloomberg News Monday (May 13). He added that uptick is indicative of a slower-growth, lower-inflation...
Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center for Microeconomic Data detailed that, per the April Survey of Consumer Expectations, inflation’s expected to be higher one...
This week, the latest spate of data from the government on spending trends will be released. Retail sales data will track consumer demand for finished goods that fly off merchants’ real and virtual shelves. The Personal Consumption Expenditures Index will give a sense of how...
Consumer caution at restaurants is reportedly dampening business at fast-casual eateries. As Bloomberg News reported Saturday (May 11), restaurants such as Red Lobster — which is mulling bankruptcy — and TGI Fridays are under greater pressure due to rising labor costs and an increase in consumers choosing to eat...
May 13, 2024
Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center for Microeconomic Data detailed that, per the April Survey of Consumer Expectations, inflation’s expected to be higher one year from now, slightly lower at the three year mark, […]
May 10, 2024
Consumers are souring about the near-term outlook — on inflation, job prospects and interest rates. Where there’s worry, there’s possibly some saving for a rainy day at the expense of...
May 06, 2024
We may be witnessing the beginnings of a great pullback in consumer spending. At least in some areas. As paycheck-to-paycheck living remains a reality for most U.S. consumers, the strategies are multipronged: trading...
May 01, 2024
If there’s a theme for retailers this earnings season, and especially for dining, it might be crystallized in the comments this week from McDonald’s CEO Chris Kempczinski, who told analysts:...
May 14, 2024
Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with Bloomberg News Monday (May 13). He added that uptick is indicative of a slower-growth, lower-inflation landscape, but still a bright spot for the American economy, […]
May 12, 2024
Consumer caution at restaurants is reportedly dampening business at fast-casual eateries. As Bloomberg News reported Saturday (May 11), restaurants such as Red Lobster — which is mulling bankruptcy — and TGI...
May 10, 2024
McDonald’s is reportedly encouraging franchisees to vote to implement a $5 meal deal to bring back consumers who have left because of high prices. Franchisees — which can weigh in on major...
May 07, 2024
American Express Global Business Travel (Amex GBT) saw global multinational customers increase their business travel during the first quarter. The growth in travel by these companies outpaced that of small- to medium-sized businesses...
