U.S. consumers increased their spending at retail businesses in December, buying more autos, furniture and clothing. Steady job growth and lower gas prices kept consumers shopping for the holidays, despite worries about potentially tax increases.
The Federal Reserve says the U.S. economy expanded at a moderate pace in July and early August, buoyed by stronger retail sales.
The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June.
U.S. retail sales declined in April and May, pulled down by a sharp drop in gas prices. But even after excluding volatile gas sales, consumers barely increased their spending.
Americans loosened their purse strings in May to update their wardrobes with bright new styles and take advantage of Mother's Day promotions.
Americans stepped up spending on retail goods in February, evidence that a stronger job market is boosting the economy. Consumers bought more autos, clothes and appliances. They also paid higher prices for gas. Retail sales increased 1.1 percent last month, the Commerce Department said Tuesday. It was the biggest gain since September.
The holiday shopping season is wrapping up to be bigger than anyone expected. Now, retailers are holding their breath and hoping consumers will keep spending in the final days before Christmas.
Americans spent more on autos, furniture and clothing at the start of the crucial holiday shopping season, boosting retail sales for a sixth straight month. Retail sales rose 0.2 percent in November, the Commerce Department said Tuesday.
Retailers are reporting strong sales gains in November, boosted by a discount-fueled spending binge for the start of the holiday shopping season last weekend. Now, the challenge is to keep shoppers spending throughout the most important selling period of the year.
As the market breathes a sigh of relief on hopes that Europe isn't going to fall apart and the unemployment picture isn't getting worse, the focus shifts to China and earnings season. But earnings may be overshadowed if inflation data out of China is worse than expected, now that the country has the world's second largest economy.
Retail sales were up in July, a rare bright spot among dim economic indicators. But consumers and investors being the way they are, the question on everyone's mind immediately becomes: Can August keep up the pace? We found out what the experts are saying.
Consumer sentiment is at its lowest level in two years, while the so-called "Misery Index" stands at a three decade-high. And it's true: Americans aren't spending as robustly as they once were. But when you look at the numbers, it becomes clear that U.S. consumers aren't down for the count just yet.
Much to retailers' surprise, old man winter didn't deter consumers from the post-holiday clearance sales. Merchants posted better-than-expected January results despite the dreadful weather that had caused many analysts to cool their forecasts.
Shoppers did their part this holiday season, spending more on clothes, jewelry and luxury items than last year, according to new sales tallies from MasterCard SpendingPulse, which tracks purchases by credit card, cash and other payment systems.
The third-quarter earnings season got off to a reasonably positive start for retailers, with department stores hoping colder weather heats up holiday sales, even as shoppers continue to prefer discounts and generally hold back on spending.