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Consumer spending drops 0.4%, personal income down 1.1% in November
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Last-minute Christmas shoppers are seen at the Glendale Galleria in California on Sunday. Photo by Jim Ruymen/UPI | License Photo
Dec. 23 (UPI) Consumer spending dropped 0.4% in November, the first decline since April as personal income took another hit amid the coronavirus pandemic, the U.S. Commerce Department said Wednesday.
The department s Bureau of Economic Analysis said personal consumption expenditures for November were $13.04 trillion, down $58.5 billion from the previous month.
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Spending had been growing steadily since May despite the economic crisis and job loss precipitated by the COVID-19 pandemic.
There was a 1% decline in spending on goods and a 0.2% drop in spending on services, the monthly report said.
2020/12/23 22:07 Excerpts from recent editorials in the United States and abroad: The Washington Post on President Donald Trump s final month in office: While Americans prepare to celebrate the holiday season, President Trump and his hardcore supporters are contemplating a turbulent final month that could make the rest of his chaotic presidency look placid. As Mr. Trump sidelines even some of his most loyal aides and allies, the few checks that remained on the president’s behavior are eroding, potentially leading to a Jan. 6 showdown over electoral votes on Capitol Hill that could further damage U.S. democracy. Government officials and even some presidential aides are reportedly bracing for what might come next. The possibilities include strange orders to the armed forces, mass firings in key national security departments, more bizarre pardons, demands to prosecute Trump political enemies or the appointment of one
BEA: R.I. GDP increases at annualized 35.5% rate in Q3
Updated at 9 a.m. on Dec. 24, 2020.
RHODE ISLAND GDP increased at a 35.5% rate in the third quarter, after declining 32.4% rate in the second quarter. / COURTESY BUREAU OF ECONOMIC ANALYSIS PROVIDENCE – Rhode Island gross domestic product increased at an annual rate of 35.5% in the third quarter, faster than the national annualized growth rate of 33.4%, the Bureau of Economic Analysis said on Wednesday. Rhode Island GDP had declined at a 32.4% annualized rate in the second quarter. The Ocean State’s GDP increase in…
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Actors and Writers and Now, Congressional Lobbyists
Be an #ArtsHero started with a failed effort to extend unemployment benefits. It’s gone on to be a prime proponent of the message: Cultural work is labor.
The founding members of the advocacy group Be an #ArtsHero, clockwise from top left: Jenny Grace Makholm, Carson Elrod, Brooke Ishibashi and Matthew-Lee Erlbach.Credit.Sara Krulwich/The New York Times
Art is what binds us. It illuminates the human condition. It’s good for the soul.
Those are the kind of arguments you usually hear when artists and cultural institutions ask for money. The advocacy group Be an #ArtsHero, which was created this summer by four New York theatermakers, takes a different approach.