Personal spending declined at a faster than expected rate in September, falling to its lowest level in more than four years, according to government figures released Friday.
Moody's Economy.com is forecasting an increased risk for recession in the next six to 12 months due to the subprime mess, which has shaken investor and consumer confidence, bumped up foreclosures and led to a tightening of credit standards for most loans.
Oil and natural gas futures rose Friday, boosted by concerns about a tropical storm system forming in the Atlantic and reports that consumer spending and factory orders rose in July.
Consumers returned to the malls in July after taking a breather in June, although worries about the future could make the rebound short-lived.
Following are the minutes from the Federal Reserve meeting, held Aug. 7.
The upcoming fourth quarter is the make-or-break period for the retail industry and the path leading to the crucial holiday season is peppered with landmines.
The outlook for the housing market looks bleaker than ever. Foreclosures are skyrocketing. Home prices continue to fall. And forecasts for a recovery keep getting pushed back.
April proved to be a tough month for the nation's retailers as higher gas prices and spending fatigue after a burst of Easter shopping in March kept consumers tight-fisted last month.
Mortgage rates remained unchanged this week, Freddie Mac said Thursday, following a slowdown in consumer spending growth and a tame inflationary reading.
Economic growth sank to the slowest pace in four years in the first quarter, the government reported Friday, as the weak housing market, coupled with higher prices, took a big bite out of the world's largest economy.
Personal spending declined at a faster than expected rate in September, falling to its lowest level in more than four years, according to government figures released Friday.
Moody's Economy.com is forecasting an increased risk for recession in the next six to 12 months due to the subprime mess, which has shaken investor and consumer confidence, bumped up foreclosures and led to a tightening of credit standards for most loans.
Oil and natural gas futures rose Friday, boosted by concerns about a tropical storm system forming in the Atlantic and reports that consumer spending and factory orders rose in July.
Consumers returned to the malls in July after taking a breather in June, although worries about the future could make the rebound short-lived.
Following are the minutes from the Federal Reserve meeting, held Aug. 7.
The upcoming fourth quarter is the make-or-break period for the retail industry and the path leading to the crucial holiday season is peppered with landmines.
The outlook for the housing market looks bleaker than ever. Foreclosures are skyrocketing. Home prices continue to fall. And forecasts for a recovery keep getting pushed back.
April proved to be a tough month for the nation's retailers as higher gas prices and spending fatigue after a burst of Easter shopping in March kept consumers tight-fisted last month.
Mortgage rates remained unchanged this week, Freddie Mac said Thursday, following a slowdown in consumer spending growth and a tame inflationary reading.
Economic growth sank to the slowest pace in four years in the first quarter, the government reported Friday, as the weak housing market, coupled with higher prices, took a big bite out of the world's largest economy.
As homeowners begin to use more caution in borrowing against home equity lines of credit, consumer spending could be lowering, according to a published report Thursday.
Americans' spending kept growing at a healthy pace in March and February, as the latest government reading on retail sales shows showed consumers once again bucking forecasts of a slowdown in their buying habits.
The notion of the little guy striking it rich - finding gold at Sutter's Mill, discovering oil at Spindletop, or cashing in on a dot-com IPO in Silicon Valley - runs deep in American lore. But some...
Retailers got a huge boost in March from the early arrival of Easter, but the buoyant mood was tempered by dour sales forecasts for April.
Following are Federal Reserve Chairman Ben Bernanke's prepared remarks to the Joint Economic Committee of Congress Wednesday.
Wal-Mart, Kmart, Target and big chains that cater to low-income consumers could take a direct hit from the turmoil in the mortgage market, industry experts warned.
The Federal Reserve left interest rates unchanged for the fifth straight time in January. Following are the minutes from the central bank's meeting:
Following is the text of the testimony from Federal Reserve Chairman Ben Bernanke Wednesday before the Senate Committee on Banking, Housing, and Urban Affairs:
Americans once again spent everything they made and then some last year, pushing the personal savings rate to the lowest level since the Great Depression.
The Federal Reserve left interest rates unchanged for the fourth straight time in December. Following are the minutes from the central bank's meeting:
Economic growth slowed to the weakest pace in more than three years in the third quarter, as the government's main gauge of the strength of the U.S. economy came in much lower than analysts had forecast.
Economists agree: It's time to shut off electronic devices, put up tray tables and return your seat to an upright position. And some say it might not be a bad idea to put your head down between your legs.
Private equity firms, flush with more than $200 billion in cash, have been aggressively mining the retailing sector over the past 12 months for acquisition targets.
Retail sales fell for the first time since February as rising gasoline prices took a toll on consumer spending in June.
A new report tracking national retail sales in May indicates that this year's run-up in gas prices has started to eat into an already slowing rate of consumer spending.
Below are the remarks by Federal Reserve Chairman Ben Bernanke at the International Monetary Conference Monday, according to the Fed's Web site.
Federal Reserve policy-makers were unsure how much more they would need to raise interest rates, if at all, after a May 10 meeting, according to minutes of the meeting released on Wednesday. Below is the first part of the full minutes from that gathering:
Wal-Mart signaled Tuesday that it's clearly worried that higher gas prices could both eat into its sales in the months ahead and add to the overall cost of running its business.
Stocks got off to a positive start Monday as a big acquisition from Dow component Boeing buoyed sentiment and investors cheered an upbeat report on consumer spending.
Bond prices tumbled across the board Tuesday, sending the 10-year yield back above 5 percent, as investors digested reports pointing to the underlying strength of the economy.
Here are the minutes of the Federal Open Market Committee's meeting on March 27 and March 28:
Retail sales rebounded moderately in March from a poor showing in the previous month, helped mostly by a pick-up in automobile purchases, the government said Thursday.
Bond prices remained largely unchanged Friday following a four-day decline as inflation fears were soothed by a consumer spending report.
February started with a whimper. But on Wall Street, it just might end with a bang.
Stocks surged Tuesday, with the Dow closing above 11,000 for the first time in a month, as lower oil prices and a jump in retail sales helped quell worries about a slowdown in consumer spending.
While the world sees the Middle East as a hotbed of tension and geopolitical strife, brand-name purveyors of American fashion, entertainment and luxury products are eager to bulk up their business, particularly in the region's lucrative retail markets.
The economy slowed sharply at the end of 2005 but forecasters are split as to whether the slowdown will continue through 2006, according to a report published Tuesday.
Stocks rose modestly Thursday morning after several better-than-expected earnings reports in the technology sector and a government consumer spending reading that showed inflation under control.
Consumer spending rose slightly in October while personal savings remained mired in negative territory, according to a government report issued Thursday.
The stock market rally faces its biggest challenge yet in the coming week, when investors will get hit with reports on holiday sales, the job market, manufacturing, housing and just about every other facet of the economy.
Here's what consumers can look forward to when the midnight bell-ringing comes to a stop: sharply higher home heating bills, holiday credit card bills, rising interest rates -- and now what looks like a slowing real estate market.
NEW YORK (CNN/Money) - Some investors are switching to defensive plays in the stock market as they bet high energy prices and rising interest rates will squeeze consumer spending and result in an economic slowdown or even a recession sometime late next year.
Hurricanes can bury a lot of things, but don't let them bury a very important nugget in Monday's personal income and spending report: the consumer fell off a spending cliff in August and September!
Treasury prices trimmed early losses Monday as investors looked ahead to this week's interest rate decisions from the Federal Reserve.
Burned by a tough October? Delirious with dreams of a rally in December?
Weaker-than expected sales at Apple Computer could take a bite out of stocks Wednesday.
For investors, the month of August generally involves chasing Frisbees rather than chasing the latest hot stock trend.
Retail sales, pumped up by a spike in purchases of new cars, clothing and other summer merchandise, rebounded strongly in June, a government report showed Thursday.
Bonds were muted Friday following a government report on inflation as traders ended the day early ahead of the long weekend.
Stocks eked out an advance Friday ahead of a long holiday weekend, extending a week of gains as investors looked ahead to next week's round of economic reports.
American consumers, squeezed with less disposable income, are becoming increasingly dissatisfied with the purchases they do make, according to a recent study.
Bonds prices fell Friday as traders reacted to a Dow rally and mixed economic reports on income and spending.
Stocks looked ready to rebound Friday, after consumer spending and personal income posted stronger than expected gains and employment costs rose less-than-expected, and despite a mixed report from software leader Microsoft.
This is an update of a story that originally appeared on April 21.
NEW YORK (CNN/Money) - Investors are doing a lot of worrying lately. Some are biting their fingernails about rising interest rates and higher inflation, while others are gnashing their teeth about signs economic growth is slowing.
Whether or not rising mortgage rates cool the housing market, they're going to put a multi-billion-dollar dent in consumer spending -- and soon.
Personal income and consumer spending rebounded in February from weak readings the previous month, the government said Thursday, as a closely watched inflation reading in the report showed slightly higher prices than expected.
Here's some bad news for red-hot high-end sellers like Nordstrom, Neiman Marcus and Saks: Their run is coming to an end.
Personal spending was virtually unchanged in January while consumer incomes slipped, the government reported Monday.
Investors have had a lot to worry about, including rising oil prices, broad inflationary pressures and the weak dollar. Still, the stock market has held up reasonably well.
Consumer spending rose at the start of the holiday shopping season in November but at a much slower pace than in October, while income growth also slowed, the government reported Thursday.
Long-term bond prices fell on Wednesday in thin trading amid caution ahead of a closely-watched inflation indicator due on Thursday that could tweak ideas about the pace of Federal Reserve rate increases.
Stocks tiptoed higher after the opening bell Wednesday on back of a mostly positive report on consumer spending and lower oil prices.
Treasury prices rose on Tuesday as high-flying oil prices fueled worries about a drop in consumer spending that could put a chill on the U.S. economy.
Bonds extended their losses while the dollar fell Thursday morning after a survey of Midwest manufacturing depicted stronger growth than expected.
Technology stocks suffered a setback Tuesday after oil prices jumped and a consumer spending report for June showed its biggest plunge in almost 3 years.
U.S. consumer spending slumped in June amid slight income growth, the government reported Tuesday, with both readings coming in below estimates.
Though the U.S. economy has hit several speed bumps on its way to a full-fledged boom, and though wholesale prices dropped unexpectedly in June, economists still see reasons for the Federal Reserve to keep hiking interest rates.
A retail industry group raised its sales forecast for all of 2004 Tuesday, although it appeared to temper its enthusiasm for the second half, which includes the crucial back-to-school and holiday shopping periods.
Target Corp.'s sales warning Tuesday, on the heels of rival Wal-Mart's own caution a day earlier, is causing industry watchers to wonder if consumer spending is beginning to cool off.
The growth in consumer spending picked up steam in May, according to a government report, as spending levels came in stronger than Wall Street expectations.
U.S. stocks seesawed early Friday, a day ahead of the Memorial Day holiday weekend, despite a solid reading of personal spending.
Consumer spending rose in April but at a slower pace than in March, a government report showed Friday, but a new surveyed showed consumers are getting less confident about the economy.
Stocks could be under pressure Friday ahead of the long holiday weekend after oil prices turned slightly higher again, although positive readings on consumer spending, income and confidence due early today could give markets a lift.
Living by the old Wall Street saw, "Sell in May, then walk away," isn't always the wisest way to manage your portfolio -- but this year, the adage might prove to be true.
Personal income gains kept pace with spending gains in March, according to government data, with the consumption rise below Wall Street expectations.
The economy grew at roughly the same pace in the first quarter as it did in the fourth quarter, the government reported Thursday, coming in below forecasts on Wall Street.
Higher gas prices may be weighing on the minds of consumers even as Easter shopping accelerated last week, according to two sales reports Tuesday.
The dollar remained weaker versus the yen in late afternoon trade Friday after having hit a five-week low versus the Japanese currency earlier in the session.
The U.S. economy is in the early stages of another sugar high, fueled by tax cuts, low interest rates and mortgage refinancing.
U.S. Treasurys extended overnight gains Thursday as investors looked to safe-haven securities after a deadly terrorist attack in Spain and soft underlying figures on retail sales.
Strong automobile sales pushed total retail sales higher in February, the government said Thursday, but sales aside from autos came in much weaker than Wall Street forecasts.
When consumer confidence dipped in February, economists thought the mini-funk was probably temporary.
The spending and income of U.S. consumers rose in January, the government said Monday in a report that fell short of Wall Street forecasts.
The economy grew at a slightly faster pace in the fourth quarter than initially estimated, the government said Friday, as robust business investment offset sluggish consumer spending and a wider trade gap.
The spending and income of U.S. consumers rose in December, the government said Monday in a report that nearly matched Wall Street forecasts.
The U.S. economy followed up a strong third quarter of 2003 with another healthy growth rate in the fourth quarter, the government said Friday, but the pace fell short of Wall Street estimates.
It looks like the market rotation so many Wall Streeters have been waiting for may finally have begun. Just not in the way they expected.
The signs are clear: the economy's roaring. But there's that Achilles heel called the job market, and just one more worry that's keeping some economists up at night.
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