consumer spending

Spending at sporting goods, hobby, musical instrument, and book stores was down 0.5% from the month before. That’s after rising pretty steadily most of the year.

Not because they want to, but because of inflation.

Recent analysis from the Bank of America Institute found that consumers are spending more on their hobbies like arts and crafts and outdoor recreation.

Some lenders surveyed by the Federal Reserve recently reported that they’ve been noticing a pickup in delinquencies, as higher costs burden both families and businesses.

The survey also showed that the confidence of upper-middle class consumers has declined the most over the past six months.

GDP grew in the first and second quarters this year, and economists expect it to continue in the third, but the tax refunds and stock market gains behind that growth are running out.

We’ll be getting a better picture of consumer borrowing this week from the Federal Reserve.

Consumers are still spending. But for many, that now means dipping into savings.

China’s consumers are spending less. A slowdown could be on the horizon.

Consumer sentiment tumbled in early August, according to the University of Michigan survey. July retail sales were down more than half a percent from June, and AAA reports the nationwide average gas price neared a record high for August.