services Archives

Waiting for another inflation report, with concern

by Matt Levin

Aug 9, 2022

Wednesday the government will tell us how much prices changed year over year in July. Inflation was an alarming 9.1% in June.

While rising prices for services, like styling hair, worry economists, prices for some goods may be dipping.

Rodin Eckenroth/Getty Images

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

by Sabri Ben-Achour

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.

Spencer Platt/Getty Images

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We're saving less. Will we spend less?

by Sabri Ben-Achour

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

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

by Sabri Ben-Achour

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.

Brandon Bell/Getty Images

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Consumers have shifted spending away from goods and toward services

by Justin Ho

May 26, 2022

But they'll shift back when goods they want — like cars — become available.

Now that they're out of the house, consumers are spending money on things like travel and dining out — despite their rising costs.

Jeenah Moon/Getty Images

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Small businesses that provide services face a pricing dilemma

by Savannah Maher

Mar 31, 2022

Customers are coming back to businesses like restaurants and day spas, but with costs going up, how much should businesses charge?

Restaurants, spas and other service businesses are adjusting their prices to cope with supply chain issues and inflation.

Patrick T. Fallon/AFP via Getty Images

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Inflation's already increasing the cost of goods. The cost of services could be next.

by Justin Ho

Feb 22, 2022

The services sector has been feeling the pinch of higher costs, particularly when it comes to wages.

Wages for workers in service industries like catering and child care have gone up in the tight labor market.

Sean Gardner/Getty Images

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Will inflated prices come back down? Mostly no.

by Sabri Ben-Achour

Feb 8, 2022

When conditions leading to inflation ease, don't get your hopes up that prices will go the other way.

The prices of things that tend to be volatile, like energy, may dip when the factors that cause inflation ease. But goods like clothing or home appliances? Probably not so much.

Joe Raedle/Getty Images

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The U.S. economy tries to find its happy place

by Lily Jamali

Jan 5, 2022

IHS Markit's Purchasing Managers' Indexes for services and manufacturing are a mixed bag.

Observers have attributed freight trains' service shortfalls to both pandemic-related stresses and cost-cutting to please investors.

Patrick T. Fallon/AFP via Getty images

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What consumer spending can tell us about the economic recovery

by Marielle Segarra

Apr 28, 2021

The numbers are a snapshot of March, when many Americans were spending freshly received stimulus checks.

This Friday's consumer spending numbers will mostly be based on the experience economy, which includes services like bars, hair salons and theaters.

Gabriel Kuchta/Getty Images

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Waiting for another inflation report, with concern

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

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We're saving less. Will we spend less?

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

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Consumers have shifted spending away from goods and toward services

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Small businesses that provide services face a pricing dilemma

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Inflation's already increasing the cost of goods. The cost of services could be next.

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Will inflated prices come back down? Mostly no.

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The U.S. economy tries to find its happy place

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What consumer spending can tell us about the economic recovery

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