Jobs and wage gains remain robust despite the Federal Reserve’s campaign to cool the economy, surprising policymakers and economic forecasters.
Category: Consumer Behavior
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Biden Takes Aim at Grocery Chains Over Food Prices
President Biden has begun to accuse stores of overcharging shoppers, as food costs remain a burden for consumers and a political problem for the president.
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Global Economy Is Heading Toward ‘Soft Landing,’ I.M.F. Says
The International Monetary Fund upgraded its growth forecasts and offered a more optimistic outlook for the world economy.
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Why Cut Rates in an Economy This Strong? A Big Question Confronts the Fed.
The central bank is widely expected to lower interest rates this year. But with growth and consumer spending chugging along, explaining it may take some work.
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After China Evergrande, Real Estate Crisis ‘Has Not Touched Bottom’
The forced liquidation of China Evergrande epitomizes the sector’s struggles: Nationwide, sales are down and millions of homes have been paid for but not delivered.
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Economists Predicted a Recession. So Far They’ve Been Wrong.
A widely predicted recession never showed up. Now, economists are assessing what the unexpected resilience tells us about the future.
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U.S. Economy Grew at 3.3% Rate in Latest Quarter
The increase in gross domestic product, while slower than in the previous period, showed the resilience of the recovery from the pandemic’s upheaval.
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Hybrid Cars Enjoy a Renaissance as All-Electric Sales Slow
Automakers like Ford, Kia and Toyota are offering more hybrid options to appeal to buyers who aren’t ready for fully electric vehicles.
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Apple Will Discount iPhones by $70 in China Starting Thursday
Facing a weak consumer appetite and fierce competition from domestic rivals amid US-China tensions, a typically discount-wary Apple is offering a 4-day sale.
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U.S. Added 216,000 Jobs in December, Outpacing Forecasts
Hiring has throttled back from 2021 and 2022, but was impressive last year by longer-term standards.
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Holiday Spending Increased, Defying Fears of a Decline
While the pace of growth slowed, spending stayed strong because of robust job growth and strong wage gains.
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Americans May Be Taking on Too Much Pay Later ‘Phantom Debt’
Buying mattresses, clothes and other goods on installment plans has propped up spending, but economists worry that such loans could put some people at risk.