Report on Spending Shows Less In, Less Out
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Americans saw their incomes rise at a slower rate in August, and were more frugal in their spending, the Commerce Department reported today.
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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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Five million people, or one in 10 adults, spend more than they earn on a monthly basis, a survey suggests.
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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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A pullback in spending raises the possibility that the country may be experiencing a rare decline in personal consumption.
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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 -- A string of government reports yesterday offered a mixed picture of the US economy.
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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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US consumers spend more as the holiday shopping season starts but fewer people head to the shops, research shows.
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The economy grew at a 0.7 percent annual pace in the first three months of this year, the weakest in more than four years as businesses sold off inventories but consumer spending remained strong, a Commerce Department report on Thursday showed.
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Consumers continued to curtail their spending last month as rising gasoline prices dampened purchases of other goods, a fresh indication of a cooling economy.
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WASHINGTON -- Less than 7 percent of the $18.4 billion that Congress approved last year to rebuild Iraq has been spent, the Bush administration said yesterday in its latest report on progress there.
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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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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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Almost a third of Americans plan to spend less on the holidays this year, mainly because they need to use their money for daily expenses, according to a survey released on Tuesday.
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Surging corporate profits -- and another big increase in corporate tax collections -- will shrink the federal budget deficit to its smallest number in five years, according to new White House estimates, which show the deficit falling to $205 billion in the fiscal year that ends in September.
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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.