Newly vaccinated Americans are spending more freely on restaurants, travel and live entertainment. That should give a boost to pandemic-scarred service industries.
Personal income jumped by a record 21% last month, largely thanks to those $1,400 relief payments. The extra cash helped fuel a jump in spending that should continue in the months to come.
The U.S. economy grew at a rapid pace in the first three months of the year as more people got vaccinated and the federal government pumped hundreds of billions of dollars into people's pockets.
The Federal Reserve left interest rates near zero Wednesday and pledged it was ready to use all of its available tools to support an economic recovery that appears to be weakening.
Consumer spending rose 1.9% last month — but the rebound slowed from May and June. Unemployment benefits continued to prop up spending in July, but that may change in August.
People aren't waiting for governors or mayors to make the decision for them. Real-time data show they cut back on spending when they're worried about being infected with the coronavirus.
While retail sales bounced back in May after a deep drop in March and April, the wealthiest Americans are not spending as freely as they did before the pandemic. And that could limit the recovery.
The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.
The Commerce Department says the U.S. economy grew 2.3% last year. That's slower than the previous year and well below the Trump administration's forecast.
The Trump administration pushed back hard against warnings of an economic slowdown. But the president is also calling on the Federal Reserve to cut interest rates again to help boost growth.
The Commerce Department says the U.S. economy picked up steam in the first three months of the year. GDP grew at an annual rate of 3.2% in the first quarter, up from 2.2% at the end of 2018,
The U.S. economy grew more slowly at the end of 2018 than initially thought. "GDP growth is slowing from unsustainable rates," one economist says. The slowdown is expected to continue this year.
What started off as a strong holiday shopping season ended with a whimper, as December retail sales posted the sharpest drop in nine years. That could mean GDP growth will miss the president's target.
Nearly 3 out of 10 online shoppers have taken the plunge to buy an item that costs $1,000 or more. Men are twice as likely as women to buy a big ticket item online, according to a new NPR/Marist poll.
A drop in global oil prices saved U.S. drivers $100 billion last year. Good news, right? Not so, say some economists. The energy industry is now so big that cheap oil may actually hurt the economy.
Before the Great Recession, many Americans piled up too much credit card debt. Now, they seem to be a little wiser about using plastic, says the head of the Consumer Financial Protection Bureau.
Falling oil prices haven't boosted economic growth as much as expected. That's partly because consumers have chosen to pay down debt and save some of the windfall rather than spend it all.
Lots of young adults are using apps like Venmo to settle all kinds of debts. As the apps get more popular, they've become targets for scammers and hackers. But that hasn't seemed to scare away users.
Financial advisers advocate using cash whenever possible. New technologies make it easier to do just the opposite. Still, a recent study shows more millennials are turning away from plastic.
Consumer spending in Nevada since the Great Recession ended five years ago is up just 3.5 percent, the weakest of any state. That’s according to a new...
