Advertisement
YOU ARE HERE: LAT HomeCollectionsConsumer Spending
IN THE NEWS

Consumer Spending

BUSINESS
June 29, 2012 | By Tiffany Hsu
The economic recovery is looking increasingly dicey, as consumer spending and confidence both slid to their lowest levels of the year amid tumbling gas prices and a still-grim jobs forecast. Americans - especially wealthier ones - are feeling pessimistic and cautious this month. An index of sentiment from Thomson Reuters and the University of Michigan slipped to 73.2 from 79.3 in May, marking its first decline in 10 months and reaching its lowest level since December.
Advertisement
BUSINESS
June 26, 2012 | By Tiffany Hsu
It's the consumer version of June gloom: Americans this month are the most down and out they've been in five months, as hiring and income prospects dim. An index of sentiment compiled by the Conference Board slid to 62 in June from 64.4 in May, the fourth consecutive decline. “If this trend continues, spending may be restrained in the short term,” said Lynn Franco, the Conference Board's director of economic indicators, in a statement. Consumer spending makes up the majority of the U.S. economy.
BUSINESS
June 1, 2012 | By Tiffany Hsu
Consumer spending, a critical economic driver, is on the up. So is construction spending, lending credence to the idea that the housing market is stabilizing and headed for recovery. Still, Wall Street is wringing its hands. Even without the dismal jobs report, which saw the unemployment rate rise to 8.2% and job growth slow, a mixed bag of economic data released Friday was enough to leave investors feeling unbalanced. Construction spending for April reached an annual rate of $820.7 billion - 0.3% above March's revised increase and 6.8% more than in April 2011.
BUSINESS
May 21, 2012 | By Tiffany Hsu
By the end of next year, the unemployment rate will be at 7.5%. Consumer spending will be up, as will housing starts. But first, the economic recovery needs to slog its way through the remainder of 2012, economists said. Monthly non-farm job growth will grow to 188,000 a month by the end of this year, up from 115,000 in April. That will cause the jobless rate to slide minimally to 8% by the fourth quarter from 8.1% now, according to a survey of 54 economists by the National Assn.
BUSINESS
May 4, 2012 | By Shan Li, Los Angeles Times
Shoppers appeared more cautious about spending in April as cold weather and fresh concerns about the economy curbed people's urge to shop, prompting worries about a possible slowdown in spending in the summer months. Weak April sales reported by major retailers and jitters about U.S. unemployment data helped push the stock market down Thursday, with the Dow Jones industrial average falling 61.98 points, or 0.47%, to 13,206.59. Retail analysts remained cautiously positive about the coming months, but warned that more bad news about the economy could further dampen consumer spending.
BUSINESS
April 30, 2012 | By Tiffany Hsu
Though American paychecks are growing at their fastest rate this year and gas prices are falling, consumers are scaling back their spending. Personal incomes picked up 0.4% in March, or $50.3 billion, after a 0.3% rise the month before, according to the Commerce Department . That expansion -- the 28th consecutive monthly rise -- was better than economists had expected. Disposable income was also up 0.4% in the largest gain so far this year. After tax and inflation adjustments, the growth narrowed to 0.2%, but it was still 2012's first increase.
BUSINESS
April 27, 2012 | By Don Lee, Los Angeles Times
WASHINGTON - The American economy grew at a sluggish rate in the first quarter, stirring more doubts about the strength of the recovery and the outlook for jobs in coming months. The economy expanded at a lackluster 2.2% annual rate in the first three months of the year, down from a 3% pace in the fourth quarter of last year, the Commerce Department said Friday. Most analysts were expecting the gross domestic product - the total value of goods and services produced in the U.S. - to increase at a 2.6% rate or more in the January-March period.
BUSINESS
April 27, 2012 | By Don Lee
The U.S. economic recovery lost a bit more steam in the first quarter than most experts expected, as business investments and inventories slowed and government cutbacks continued to be a drag on growth. The nation's economic output expanded at a modest 2.2% annual rate in the first three months of the year, down from a 3% increase in the nation's gross domestic product in last year's fourth quarter, the Commerce Department said Friday. Most analysts were expecting a GDP growth rate of 2.6% or a little higher for the first quarter.
BUSINESS
March 30, 2012 | By Tiffany Hsu
What high gas prices? American consumer spending last month increased by the most in seven months, even though the rise in their incomes was less impressive. Spending was up 0.8% in February after increasing 0.4% in January , according to the Commerce Department . Even when adjusted for inflation, much of it gas price-related , spending was still up 0.5% -- the best showing in five months. Analysts had worried that the rising cost of fuel would force consumers to cut back elsewhere.
BUSINESS
March 2, 2012 | By Shan Li, Los Angeles Times
Shoppers hit the malls in February with their wallets open and handed retailers a robust start to the spring season amid another sign of a recovering economy. Strong retail sales and other good news about unemployment claims and consumer spending helped push the stock market up Thursday, with the Dow Jones industrial average rising 28 points to 12,980 points. Retail analysts were upbeat about the coming months but cautioned that soaring gasoline prices could potentially damp consumer spending.
Los Angeles Times Articles
|