GDP dips by 0.9% in second quarter, but consumers are still spending

Jul 28, 2022
While consumers cut back on goods spending, spending on services jumped.
While consumer spending on goods dropped in the second quarter, services spending jumped.
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Does declining consumer confidence lead to lower spending?

Jul 26, 2022
The mood worsened for the third straight month, but many Americans have financial cushions.
As the labor market cools, economist Betsey Stevenson predicts consumer spending will too. For some lower-income households, that’s already happening.
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Spending is up, but consumer confidence isn't

Jul 15, 2022
Retail sales rose in June, yet inflation is still a factor in how and where people are willing to spend.
While electronic and appliance sales saw the biggest drop in the last year, spending at bars and restaurants remain strong.
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Why the U.S. doesn't have the best sunscreens in the world

Jul 13, 2022
The FDA hasn't approved ingredients that could make products more pleasing to use — and used more often, says Amanda Mull of The Atlantic.
People may be less likely to use sunscreen when it feels sticky, goopy or greasy, or leaves a white cast.
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Consumers are spending more on services than on stuff. How long will that last?

Jul 6, 2022
Even if growth in services sector spending slows this summer, economists don’t see it stopping any time soon.
People have been spending more money on the service sector than goods.
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Consumers dialed back their spending in May, thanks to rising prices and interest rates

Jul 4, 2022
The 0.4% drop signals that the Federal Reserve's interest rate hikes are cooling the economy, but there's a greater risk of recession.
Among consumers, an attitude of eager spending may be giving way to concern about household budgets.
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Current economic moment could spell "catastrophe for retailers"

Jul 1, 2022
With rising prices, ongoing supply chain issues and the wrong inventory, it's a rough time to be a big-box store.
Kohl's had been in negotiations to be bought by the Franchise Group but decided to end those talks. It's part of an industry that's struggling with difficult conditions.
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Consumers are pulling back on spending. They're also tapping savings and taking on debt.

Jun 30, 2022
That's good news for inflation, but it might be bad news when it comes to the risk of a recession.
The price of everything — from groceries and gasoline to discretionary purchases like travel — is going up. As a result, consumers aren't spending as freely.
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We're saving less. Will we spend less?

Jun 14, 2022
After reaching a record high of nearly 34% early in the pandemic, the savings rate has dipped below its pre-pandemic level.
Travelers board a train in Washington, D.C. Partially fueled by pent-up demand for services, consumers are spending down their savings.
Drew Angerer/Getty Images

Consumers are spending on services again as the pandemic shopping spree for goods cools

May 31, 2022
People want to get outside and do stuff, not just buy stuff. That's reflected in surging travel bookings — and airfare.
Consumers are still spending on big-ticket, durable goods like furniture. But now demand for services is picking up again.
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