Us Consumer Spending News Today

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Treasury Secretary Janet Yellen said she sees a good chance of the US economy achieving a soft landing, with the unemployment rate — which has ticked up in recent months — averting a sharp increase

US consumer behaviour has been confounding economic forecasters all of this year by moving out of step with inflation and interest rates. Macroeconomic data, too, is sending mixed signals on how far the US is from a recession. Chances are Black Friday sales figures will do little to shed clarity.

AUD/USD falls to lowest level since October 2022 US GDP expected to jump to 4.3% The Australian dollar has pared losses from earlier today. In the Europea

Economic uncertainty hits US car owners, impacting consumer spending and triggering repossession concerns. Factors like dwindling tax returns, job market volatility, and inflation contribute to this surge, making it harder for low-income workers to afford reliable transportation.

Surging bond yields are raising interest rates on everything from mortgages to personal loans, spelling trouble for resilient consumer spending.

US consumer spending increased by 0.4% in August, according to the Commerce Department, with Julys figures revised to show a 0.9% increase. However, underlying inflation remained moderate, with the year-on-year rise in prices excluding food and energy slowing to below 4.0%. Gasoline prices surged in August, leading to a 0.4% rise in the personal consumption expenditures price index.

Soaring gas prices, resuming student loan payments, and unaffordable housing costs are reasons why some Americans have exhausted excess savings.

A sharp slide in Americans' personal savings is threatening to hurt consumer spending, which has so far helped the US economy hold up in the face of recession warnings.