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Consumer spending, which accounts for more than two-thirds of U.S. economic activity, accelerated 0.7% last month after an unrevised 0.4% rise in August, the Commerce Department's Bureau of ...
August 11, 2023 at 8:25 AM The typical American household spent $709 more in July than they did two years ago to buy the same goods and services, according to Moody’s Analytics.
U.S. consumer debt snapshot. Average loan balances grew for most types of consumer debt in 2023. Credit cards—the debt products with the highest average interest rates for consumers—grew the most.
The United States federal budget for fiscal year 2023 ran from October 1, 2022, to September 30, 2023. The government was initially funded through a series of three temporary continuing resolutions. The final funding package was passed as an omnibus spending bill, the Consolidated Appropriations Act, 2023.
This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year.
On Thursday, the government said the economy accelerated at a 4.9% annual rate in the July-September quarter, the fastest such rate since 2021, on the back of a jump in Americans' spending.
Many Republicans have blamed stimulus spending by Biden and fellow Democrats for fueling the surge; economists argue that the government's COVID stimulus during 2020 under Trump, as well as the Federal reserve's inactions, and more stimulus under Biden, started the 2021 inflation spike. [158] In March 2023, Federal Reserve chairman Jerome ...
Consumers were still spending in March, though the pace slowed from months before and concerns that sales gains are shrinking as the year progresses are mounting.
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