The latest data from the Department of Commerce’s Bureau of Economic Analysis revealed that consumer spending outpaced income growth in September. The news may be a boon for consumption and, by extension, merchants. However, the personal income and outlays data indicated that a decrease in...
It’s a truism that as the U.S. consumer goes, so goes the economy. And consumers are still opening their wallets and purses, tapping to pay, clicking to pay, swiping their cards; by extension, gross domestic product continues its upward trajectory, though at a pace slowing...
The latest revision to second-quarter GDP data is the third and final one. According to the newest data from the Bureau of Economic Analysis, real disposable income turned out to be healthier than initially reported. On Thursday (Sept. 26), the bureau said in a news...
The reality is that inflation is cooling. But perception, as they say, is reality. As captured in a PYMNTS Intelligence report in August, the reality is that the current level of essential goods and services is making it hard for paycheck-to-paycheck consumers to make ends...
November 27, 2024
The Bureau of Economic Analysis confirmed Wednesday (Nov. 27) that third-quarter GDP grew at a 2.8% rate, unchanged from a previous estimate. However, there are several puts and takes that bear watching, indicating where consumer spending, which has long been the key growth engine of the economy, might be headed. Deceleration remained a hallmark of […]
October 30, 2024
It’s a truism that as the U.S. consumer goes, so goes the economy. And consumers are still opening their wallets and purses, tapping to pay, clicking to pay, swiping their...
September 02, 2024
The reality is that inflation is cooling. But perception, as they say, is reality. As captured in a PYMNTS Intelligence report in August, the reality is that the current level...
July 25, 2024
The newest reading on gross domestic product (GDP) — for the second quarter, only a few weeks in the books — shows a quickening pace of growth. And, yes, consumers...
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...
