Consumer spending

FILE - In this June 30, 2020 file photo, Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington. U.S. consumers lifted their spending in May and June but businesses remained cautious because of the tremendous uncertainty surrounding the economic outlook, Federal Reserve officials said at a policy meeting last month. The nascent economic recovery faces several risks, Fed officials said in discussions during their most recent meeting on July 28-29. (Tasos Katopodis/Pool via AP)
August 19, 2020 - 3:51 pm
WASHINGTON (AP) — U.S. consumers lifted their spending in May and June but businesses remained cautious because of the tremendous uncertainty surrounding the economic outlook, Federal Reserve officials said at a policy meeting last month. The nascent economic recovery faces several risks, Fed...
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FILE - In this March 31, 2020 file photo, prices are seen on a gas pump in Brandon, Miss. U.S. consumer prices jumped 0.6% in July as gasoline prices continued to rise. The Labor Department reported Wednesday, Aug. 12, that the increase in its consumer price index matched a 0.6% rise in June. (AP Photo/Julio Cortez, File)
August 12, 2020 - 9:16 am
WASHINGTON (AP) — U.S. consumer prices jumped 0.6% in July as gasoline prices continued to rise. The Labor Department reported Wednesday that the increase last month in its consumer price index matched a 0.6% rise in June. The uptick was about twice what economists expected. But inflation remains...
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FILE - In this June 17, 2020 file photo, a sign advertises a sale at an H&M store along Lincoln Road Mall in Miami Beach, Fla. U.S. consumer confidence had a sharp drop in July to a reading of 92.6 as coronavirus cases in many parts of the country began rising again. (AP Photo/Lynne Sladky, File
July 31, 2020 - 9:45 am
WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus' resurgence in much of the country could impede further gains. Last month’s...
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FILE - In this June 1, 2020, file photo, waiters prepare the terrace of a restaurant in order to respect distancing measures in Paris as France gradually lifts its lockdown due to the coronavirus. France's economy shrank by nearly 14% in the second quarter when the country was in coronavirus lockdown, a third consecutive quarter of negative growth in a worsening recession, the national statistics agency said Friday, July 31, 2020. (AP Photo/Christophe Ena, File)
July 31, 2020 - 8:32 am
PARIS (AP) — The economy of the 19-country eurozone shrank by a devastating 12.1% in the April-June period from the quarter before - the largest drop on record - as coronavirus lockdowns shut businesses and hampered consumer spending. Economists say the worst of the downturn is past as many...
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FILE - In this June 22, 2020, file photo, wearing a face shield, server Brandon Fricke, left, takes orders from dine-in customers surrounded by protective dividers at Water Grill seafood restaurant in Los Angeles. Restaurants and stores have been forced to make changes to survive. (AP Photo/Jae C. Hong, File)
July 16, 2020 - 5:31 pm
BALTIMORE (AP) — Rising coronavirus infections across dozens of states are threatening the U.S. economic recovery, forcing businesses and consumers to freeze spending and keeping the unemployment rate stubbornly high. The government reported Thursday that retail sales rose a sharp 7.5% in June, but...
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FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. U.S. consumers reduced their borrowing for a third straight month in May 2020 as the millions of jobs lost because of the coronavirus pandemic made households less eager to take on new debt. The Federal Reserve reported Wednesday, July 8, 2020 that consumer borrowing declined by $18.3 billion in May, a drop of 5.3%. (AP Photo/Jenny Kane, File)
July 08, 2020 - 4:17 pm
WASHINGTON (AP) — U.S. consumers reduced their borrowing for a third straight month in May as the millions of jobs lost because of the coronavirus pandemic made households less eager to take on new debt. The Federal Reserve reported Wednesday that consumer borrowing declined by $18.3 billion in May...
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Shoppers, left, head to the entrance as a sign on the outside wall invites customers to shop inside a Best Buy store Wednesday, June 24, 2020 in Richfield, Minn. as restrictions due to the coronavirus have eased in Minnesota. (AP Photo/Jim Mone)
June 26, 2020 - 9:31 am
WASHINGTON (AP) — American consumers increased their spending by a record 8.2% in May, partly erasing record plunges the previous two months, against the backdrop of an economy that’s likely shrinking by its steepest pace on record this quarter. Last month's rebound in consumer spending followed...
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FILE - In this May 7, 2020 file photo a woman sitting on a stoop reading a book in the sun is seen reflected by a closed clothing store's window on West Broadway in the SoHo neighborhood of the Manhattan borough in New York. U.S. retail sales likely recovered somewhat in May as the economy increasingly reopened from closures caused by the coronavirus and more shoppers felt confident enough to spend. The Commerce Department is expected to report Tuesday, June 16, 2020 that retail purchases climbed 9% from April to May, according to economists surveyed by the data provider FactSet. (AP Photo/Mary Altaffer, file)
June 16, 2020 - 11:16 am
BALTIMORE (AP) — U.S. retail sales jumped by a record 17.7% from April to May, with spending partially rebounding after the coronavirus had shut down businesses, flattened the economy and paralyzed consumers during the previous two months. The government’s report Tuesday showed that retail sales...
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FILE - In this March 28, 2020, file photo, a lantern hangs outside an empty restaurant in the Shimbashi section of Tokyo. Japan’s economy is still in recession but contracted at a smaller rate than initially estimated for the first quarter, according to government data released Monday, June 8, 2020. (AP Photo/Jae C. Hong, File)
June 07, 2020 - 11:35 pm
TOKYO (AP) — Japan reported Monday that its economy contracted at an annual rate of 2.2% in January-March, less than initially estimated. The update from the Cabinet Office was an improvement on the 3.4% contraction earlier reported. It said private sector demand had not dropped as much as...
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John Price and Bijan Black have lunch with their son Parker Price, 2, all of Seat Pleasant, Md., at the Wharf area in Washington, Friday, May 29, 2020. This was their first time venturing out since the coronavirus pandemic started. (AP Photo/Susan Walsh)
May 29, 2020 - 8:50 pm
WASHINGTON (AP) — With new U.S. economic numbers highlighting the rough road ahead for a hoped-for rebound, President Donald Trump on Friday took aim at the World Health Organization and China, blaming both for their roles in the pandemic's devastation. Trump announced that the United States will...
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