consumer spending

Report: Consumers continued to spend in July

Report: Consumers continued to spend in July

PURCHASE, N.Y. — U.S. retail sales excluding automotive and gas rose 9.0% year-over-year in July, according to Mastercard SpendingPulse, which said rising prices—particularly for necessities such as food and fuel—were a contributing factor. Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, reflects nominal spending and is not adjusted for

NRF: Recovery is ‘being tested daily’

NRF: Recovery is ‘being tested daily’

WASHINGTON – Despite signs that reopening businesses have begun to lift the economy, National Retail Federation chief economist Jack Kleinhenz said Monday that conflicting data makes it difficult to say how steady the comeback will be. “Optimism about the economy and retail spending is being tested daily with the spread of the coronavirus,” Kleinhenz said.

Consumer spending upheaval

NEW YORK — Consumer spending, the engine that drives about 70% of the U.S. economy, is poised for significant changes as the population ages, according to The Conference Board. The nonprofit membership organization is forecasting big increases in health care and retirement spending over the next decade, as well as a notable decline in Americans’