consumer spending

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Poll: Few Plan Splurges With Tax Refunds

More people than ever are just paying off bills

(Newser) - Taxpayers’ refund checks are starting to arrive, but this year the economy might not see much of a boost from that money, an AP poll finds. More people are planning to spend their refunds in some way, but 54% say they’ll pay off existing bills rather than go on...

Men's Skivvy Sales Spell More Trouble

Stimulus package or not, underwear metric indicates downturn

(Newser) - More bad news, this time from the men’s underwear department. One of former Fed chairman Alan Greenspan’s favorite metrics for predicting changes in consumer spending was the sales of men’s skivvies, the Huffington Post reports. It seems that sales are projected to decline 2.3% this year,...

Layoffs Will Trigger Layoffs: Economists

(Newser) - Unemployment has hit a 25-year high, but analysts say it will worsen as job cuts force consumers to cut back, triggering yet more payroll reductions, Bloomberg reports. Manufacturers, service providers, and even the US Postal Service are planning to lay off workers in the face of declining consumer demand. “...

Stressed Americans Still Spending Less: Poll

(Newser) - Americans are stressed about the economy and keeping their wallets shut, says a new ABC/Washington Post poll. While the number of Americans who say the economy is getting better is on the rise, that's not translating into shopping habits. Six in 10 say they feel stressed—half of those describe...

'Tentative' Signs Point to Healing US Economy

But changes on paper may take time to hit pockets

(Newser) - Next month, the US recession is set to become the longest since the Great Depression, but the Wall Street Journal, in the first up-beat prediction in months, musters “tentative” signs that things could be turning around. Consumer spending and sentiment rose in February, the housing market is looking more...

Some Spending Hard to Trim in 'Guilt Economy'

Many shell out to ensure favorite businesses survive

(Newser) - Charitable contributions are down in a tough economy—but that may not mean people are feeling less philanthropic. Feeling too guilty to let the masseuse go under or a favorite shop die, many who can afford it are spending in an effort to help those around them, the Wall Street ...

Retail Giants Likely to Shrink in '09

(Newser) - Retailers are fighting to survive in 2009, some more successfully than others. Some 73,000 stores could close their doors by year’s end. Forbes breaks down which chains are shrinking the fastest:
  • Ann Taylor: Catering to working women isn’t so great when unemployment’s at 8.1%. Expected
...

Recession Harbinger: Less Trash

(Newser) - The current recession was fairly clear to a certain segment of the population as far back as late 2007, the Washington Post reports—landfill operators. Since then, dumps and garbage collectors have seen a steep drop-off in trash—in some cases up to 30%—along with their own jobs. It's...

Drive Past the Body Shop: Sun Will Repair Scratches

New self-healing coating will save you money, time

(Newser) - The sun will soon be able to help repair the scratches on everything from iPods to cars. Researchers have developed a polyurethane coating that heals itself when exposed to UV radiation, Wired reports. The coating, which should be available in a few months, could save consumers money and reduce waste...

Consumer Spending Rises in Jan.

But experts don't expect boost to last

(Newser) - Consumer spending rose in January after falling for a record 6 consecutive months, pushed higher by purchases of food and other non-durable items. But the increase is expected to be fleeting given the problems facing the US economy. Spending rose 0.6% in January, better than the 0.4% gain...

GDP Drop Worst in 26 Years
 GDP Drop Worst in 26 Years 
Feb 27, 2009 8:09 AM CST

GDP Drop Worst in 26 Years

Worse than anticipated

(Newser) - The US economy contracted at a staggering 6.2% pace at the end of 2008, the worst showing in more than a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession. That's drastically worse than the 3.8% the government originally estimated, and the 5....

Food Spending Turns Anorexic
 Food Spending Turns Anorexic 
Feb 13, 2009 9:36 AM CST

Food Spending Turns Anorexic

Restaurants, name-brand food hit hard as diners opt for cheaper fare

(Newser) - Americans have trimmed their food spending sharply, hitting restaurants, food retailers, and brand-name food producers squarely in the gut, the Wall Street Journal reports. In the last quarter of 2008, spending on food plunged an inflation-adjusted 3.7% from the previous quarter, the steepest decline since the government began keeping...

Surprise! Retail Sales Up 1% in Jan.

Gas prices, food and clothing spending end 6-month drop

(Newser) - In an unexpected twist, US retail sales climbed slightly in January after falling for six straight months, Bloomberg reports. Retail sales rose 1% as gasoline prices increased and consumers spent more on food and clothing, despite forecasts that sales would fall 0.8%. But consumer spending is expected to fall...

US Consumer Spending Falls Yet Again

1% drop greater than forecast; 6 straight months of decline

(Newser) - Consumer spending fell in December to finish off its worst year since 1961, Bloomberg reports. Purchases fell 1%, topping analyst estimates of a 0.9% decline. It was the record sixth consecutive month spending has fallen, and that streak may get longer, one economist predicted. Thanks to nearly 2.6...

To Consume or Not to Consume, That Is the Question

(Newser) - As Americans cut back on spending, a certain dread creeps in—not of having less, but of what curtailed consumption could mean for the future, Douglas Coupland notes in the New York Times. Sure, “a big drop in consumption sounds like the advent of a new utopia where people...

Slump in TV Sales May Push Smaller Makers Out

Likes of Hitachi, Pioneer don't have staying power of Sony and other giants

(Newser) - A steep decline in demand for flat-panel TVs could push smaller manufacturers out of the market, the Wall Street Journal reports. As the economy sours and larger makers achieve economies of scale, the price gap between top brands and cheaper rivals has shrunken dramatically. The top five makers accounted for...

Economy Brews Change for Coffee Drinkers

Americans splurge on Starbucks less often, make joe at home

(Newser) - Still hitting Starbucks every day on your way to work? You’re in the minority. A recent survey found 60% of Americans buying less gourmet coffee as the economy has soured, reports Advertising Age. Starbucks’ loss has been Dunkin’ Donuts’ gain, allowing the company to expand into new markets as...

Stocks Plunge on Retail, Financial Fear
 Stocks Plunge 
 on Retail, 
 Financial Fear 
Market Open
Jan 14, 2009 8:53 AM CST

Stocks Plunge on Retail, Financial Fear

(Newser) - Stocks tumbled at the open today, in the wake of a retail sales report that drastically missed estimates. The Dow dove 157 points, while the Nasdaq and S&P dropped 1.5% and 2.1% respectively. Sales fell 2.7%, more than twice the 1.2% economists predicted. Nortel Networks,...

Retail Sales Take Steep Plunge

Fall twice as far as anticipated

(Newser) - Retail sales fell more than twice as much as analysts predicted in December, thanks to mounting job losses and reduced credit, Bloomberg reports. Sales fell 2.7%, extending the longest string of declines on record to 6 consecutive months. Purchases excluding automobiles slid 3.1%. “Consumers are pulling back,...

Dow Gains 49 Before Holiday
 Dow Gains 49 Before Holiday 
MARKETS
Dec 24, 2008 12:34 PM CST

Dow Gains 49 Before Holiday

(Newser) - Stocks posted modest gains today amid light holiday trading, the Wall Street Journal reports. Drops were reported in orders for durable goods and consumer spending, but they were smaller than expected. The Dow closed up 48.99 points at 8,468. The Nasdaq gained 3.36 points to settle at...

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