WASHINGTON (AP) – American consumers increased spending by a record 8.2% in May, partially erasing huge declines in the previous two months, in the context of an economy that is likely to be slowing down at its fastest pace recorded this quarter. The pickup in consumer spending last month followed …
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The United States savings rate stood at 23.2% in May, compared to 32.2% in April. So far so good. Many economic indicators recorded sharp falls in April, the height of the blockade, and recovered in May, which made the data very choppy. It seems that consumer spending also fits that …
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WASHINGTON (Reuters) – US consumer spending rebounded in the largest amount on record in May, but earnings are unlikely to be sustainable as revenue will decline and is expected to further decrease as Millions lose their unemployment checks starting next month. The Commerce Department report on Friday added increases in …
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New Jersey Governor Phil Murphy told CNBC on Friday that he believes K-12 schools in the state will reopen for face-to-face classes in the fall. “We want them to, and I think they will,” Murphy said in “Squawk Box,” while acknowledging that hopes of reopening schools could be derailed if …
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A cashier, left, returns cash to a customer at a Vineyard Vines store in Illinois. Daniel Acker | Bloomberg | fake pictures US consumers increased their spending by a strong 8.2% in May, partially erasing the record for the past two months, in the context of an economy that is …
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