Brian Moynihan, CEO of Bank of America, said higher inflation and interest rates have dampened consumer and business spending this year. From hardware to software, both consumers and small to medium-sized businesses are pulling back on their purchases, Moynihan said at a New York financial...
Economic data frequently comes in stages: There’s the initial estimate, and then a revision. And in the newest reading of how U.S. gross domestic product (GDP) fared in the first quarter, the Bureau of Economic Analysis indicated that the slowdown was more pronounced than initially...
The latest data on personal consumption notes that spending is outpacing the growth in disposable income. And as a result, consumers are dipping into savings to keep their spending apace. The latest personal income expenditures (PCE) price index from the Bureau of Economic Analysis indicates...
And now it seems the slowdown is here. Markets slumped by more than 1% Thursday morning (April 25) on the latest reading on gross domestic product (GDP) growth, courtesy of the Bureau of Economic Analysis — which we note is an advance estimate of first-quarter...
April 25, 2024
And now it seems the slowdown is here. Markets slumped by more than 1% Thursday morning (April 25) on the latest reading on gross domestic product (GDP) growth, courtesy of the Bureau of Economic Analysis — which we note is an advance estimate of first-quarter results. Per the latest release, the economy grew at an […]
February 29, 2024
The headlines Thursday (Feb. 29) trumpet the fact that inflation rose in January at the rate most people expected — by 3% month on month. The Personal Consumption Expenditures (PCE)...
November 29, 2023
The latest report from the Bureau of Economic Analysis, released on Wednesday (Nov. 29), noted the U.S. economy grew 5.2% annualized, as measured in the third quarter. That’s up from...
May 30, 2024
Brian Moynihan, CEO of Bank of America, said higher inflation and interest rates have dampened consumer and business spending this year. From hardware to software, both consumers and small to medium-sized businesses are pulling back on their purchases, Moynihan said at a New York financial conference, according to a Thursday (May 30) CNBC report. “Both […]
October 26, 2023
Strong consumer spending this summer helped drive economic growth in the U.S. Figures released Thursday (Oct. 26) by the U.S. Commerce Department showed gross domestic product (GDP) increasing at a seasonally- and inflation-adjusted 4.9%...
June 30, 2023
Consumer spending continued to drop in May as U.S. households curtailed spending and boosted their savings. Data from the Bureau of Economic Analysis (BEA) released on Friday (June 3o) shows...
April 27, 2023
The U.S. economy slowed in the first three months of 2023, according to new government data. Figures released Thursday (April 27) by the Bureau of Economic Analysis (BEA) showed the...
