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WASHINGTON (Reuters) -U.S. business activity nearly stalled in February amid mounting fears over tariffs on imports and deep cuts in federal government spending, erasing all the gains notched in ...
New data from Barclaycard has revealed consumer card spending increased 10.6% year-on-year as spending was boosted by the easing pandemic restrictions compared with 2021.
When prices rise, families on a budget have two choices: Earn more or spend less. In 2023, three out of four people chose the latter. A new GOBankingRates survey of more than 1,000 adults found ...
A study published by the Bureau of Labor Statistics, the agency that tracks consumer prices, found that dealer markups accounted for 35% to 62% of new vehicle inflation from 2019 to 2022. Paul Ryan, the CEO of a shopping app that monitors prices across about 40,000 dealerships, remarked, "it was the best of times for car dealers, for sure."
Notably, February's decline was broad-based among income groups, including the more affluent cohort of consumers, which has driven the bulk of spending in recent years. "That is a concern ...
The government projects that the GDP will contract by 5.5% in 2020. The First Metro Investment Corp projects a year-on-year GDP decline of 8–9%. The decline is led by a decrease in household spending which typically accounts for 70% of the country's GDP and hesitancy on spending due to COVID-19 community quarantine measures. [334]
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