Report on Spending Shows Less In, Less Out
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U.S. incomes rose at a slower rate in August, and spending slowed, the Commerce Department said.
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U.S. consumer spending edged up a slim 0.2 percent in November, much weaker than October's robust 0.8 percent jump as purchases of new cars dropped sharply, a government report on Thursday showed.
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WASHINGTON -- Battered consumers, faced with weak income growth and rising inflation, trimmed their spending in August by the largest amount in nearly a year. The Commerce Department reported Friday that consumer spending, after adjusting for inflation, dropped by 0.1 percent last month, the first...
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Consumers are a bit more inclined to cut back on holiday spending than in recent years, concerned about energy costs and credit card debt.
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WASHINGTON -- The economy limped ahead at just a 0.7 percent pace in the first quarter, the slowest in more than four years, as some businesses clamped down on spending given uncertainties about the severity of the housing slump.
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Consumers, battered by harsh economic crosswinds, spent less in December than at any time in the past 15 months while applications for unemployment benefits soared last week, two more signs the economy is weakening.
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WASHINGTON -- The federal budget deficit, helped by a surge in government revenue, is running 14.1 percent below the pace of last year, the government reported yesterday.
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Retail spending by Americans was  little changed in December as consumers anxious over the  housing slump and high oil prices held back on purchases during  the crucial holiday season, a report released on Friday showed.
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Statistics don't tell the real story about the state of your finances.
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Investor's Business Daily - The monthly federal deficit hit $120 bil in Feb., but was down 26% for the first 5 months of fiscal 2007, the Treasury Dept. said. Receipts totaled $120.3 bil in Feb., while spending was $240.3 bil.
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The US economy slowed less than previously estimated in the second quarter as exports and inventories grew, revised numbers from the government show.
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The Q3 report shows declining numbers, but there's more to the story.
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Yet while the numbers reflected strength in exports, they also indicated that American consumers had cut back on their spending as the economy flagged.
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U.S. consumer spending was unexpectedly flat in August, government data showed on Thursday, as shoppers exercised restraint after splashing out even more than previously thought during the previous month.
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The economy could be headed for slower growth in the next several months, according to a report released Thursday by a private research group.
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Twenty-three percent of respondents to a ChangeWave Research study said their companies will reduce or halt IT spending in the second quarter of this year, results that underscore recent&#160;concerns about a U.S. recession.ChangeWave, an investment advice firm in Rockville, Maryland, conducted a survey Feb. 11 to Feb. 15, garnering responses from 2,013 people involved with IT spending in their organizations. Most worked for U.S. companies, with 7 percent of respondents coming from Canada, as well as a small number from other nations.Only 15 percent of respondents said spending would increase in the second quarter, a nine-point drop from the company&#39;s previous survey in November. Just 10 percent reported that first-quarter spending has been greater than planned, a fall of seven points compared to the last survey. Twenty-seven percent of respondents said their companies have spent less than planned during the first quarter, a rise of three points.Meanwhile, 43 percent said their companies are giving a &quot;green light&quot; to second-quarter spending, meaning conditions are normal. But that represents a nine-point drop from the last study and the lowest level ChangeWave has seen in more than four years.The results are roughly similar across companies of all sizes, according to ChangeWave&#39;s data.&quot;This is pretty non-ambiguous stuff here,&quot; Paul Carton, director of research for ChangeWave, said of the results. &quot;But it&#39;s not the end of the world, either. ... We&#39;re having a tough quarter right now. Spending is down. That doesn&#39;t mean there aren&#39;t pockets where things are doing OK.&quot;In addition, strong consumer spending could prop up the economy even as corporations tighten their belts, he said. &quot;We find in our world of measuring change, the consumer spending is two-thirds and corporate spending is one-third.&quot;However, a ChangeWave study on consumer spending from January turned up similarly grim results.Also, respondents to the latest survey offered rather lukewarm forecasts for the rest of the year. Only 19 percent said they expected their IT budget to grow in the second half of 2008, and 20 percent predicted it will drop. However, 51 percent said they believe it will remain the same.
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Five million people, or one in 10 adults, spend more than they earn on a monthly basis, a survey suggests.