The Personal Consumption Expenditures Index climbed 2.5 percent, still more than the Fed’s 2 percent target, as price increases take time to come down.
Category: Consumer Behavior
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Chase to Bar Customers From Using Credit Cards for ‘Pay Later’ Loans
Financial regulators and consumer advocates frown upon using credit cards to pay off installment loans because of the risk that consumers will dig themselves further into debt.
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U.S. Economy Grew Faster Than Expected in Second Quarter, at 2.8% Rate
The report on gross domestic product offered new evidence of the economy’s resilience in the face of high interest rates.
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China’s Economy Slows as Housing Troubles Squeeze Spending
After a strong start to the year, spending has weakened as a real estate downturn weighs on consumers and companies. Communist Party leaders are meeting this week to discuss what to do about it.
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Have Potato Chips Reached Peak Price?
PepsiCo reports in its earnings that people are buying fewer salty snacks from its Frito-Lay brands. It’s not the only food company that is seeking to lure back consumers stung by high prices.
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Elon Musk’s Politics May Be Pushing Some Buyers Away From Tesla
The Tesla chief executive’s polarizing statements have alienated some potential customers and may be partly responsible for a recent slump in sales.
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China Dangled Rebates to Lure People to Spend. It’s Not Enough.
China’s leaders vowed to kick-start spending by offering subsidies for households to buy cars and appliances. But many consumers aren’t biting.
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Walgreens Plans ‘Significant’ Store Closures, Citing Weak Consumer Spending
The pharmacy giant told investors that shaky consumer spending was affecting its retail operations. But some said the company’s strategy was also to blame.
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China’s Lust for Durian Is Creating Fortunes in Southeast Asia
Demand for the fruit, known for its rich taste and intense smell, has reshaped parts of Southeast Asia, where it has long been a staple.
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Fed Is in No Rush to Cut Rates as Economy Holds Up
Federal Reserve officials are expected to leave interest rates unchanged at their meeting this week. They will also release a fresh set of economic projections.
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What Retail Apocalypse? Shopping Centers Are Making a Comeback.
Vacancy is the lowest it has been in two decades, at 5.4 percent, according to a recent report. The properties are thriving even as retailers like Macy’s and Express shutter many stores.