Tag: consumer spending

Consumer spending power weakens

Consumer spending power weakens

Annual income growth fell to 1.7 per cent last month, its lowest level since December 2010, according to Lloyds Banking Group’s Spending Power Report for September. This was largely responsible for a 0.9 per cent fall in real discretionary spending power, with the amount consumers have to spend on non-essential items falling around £8 per [...]

October 15, 2012 | 0 Comments More
UK consumer spending higher in September

UK consumer spending higher in September

Consumer spending increased by 3 per cent in September compared with August, as people spent more on clothes and in hotels and restaurants. The figures, from Visa Europe’s UK expenditure index which is compiled by Markit, represent the biggest increase since May 2009. The increased spending follows improvements in the job market which have boosted [...]

October 5, 2012 | 0 Comments More
US consumer spending up in September

US consumer spending up in September

Official figures have revealed consumer spending in the US improved last month. According to the Commerce Department, consumer spending rose 0.6% to $68.7 billion (£42.7 billion) in September and follows a 0.2% rise in August. The figures will be a welcome boost for the economy which looked set to be heading towards a double dip [...]

October 29, 2011 | 0 Comments More
US retail sales higher in September

US retail sales higher in September

The Commerce Department today revealed US retail sales grew at their quickest pace in seven months in September. According to the Department, sales gained 1.1% on a monthly basis – boosted by clothing and car sales. The figures were better than the 0.7% rise expected by analysts. Furthermore, August retail sales were revised up to [...]

October 14, 2011 More
US consumer confidence remains weak in September

US consumer confidence remains weak in September

US consumer confidence remained weak in September, the Conference Board has reported. The closely-monitored Consumer Confidence Index from the Conference Board edged higher to 45.4 this month from August’s upwardly revised reading of 45.2. However, not only was the reading less than forecasts of a level of 46.6, it was the lowest since April 2009 [...]

September 28, 2011 | 0 Comments More
ONS: UK retail sales fall 0.2% in August

ONS: UK retail sales fall 0.2% in August

The Office for National Statistics (ONS) has today revealed UK retail sales fell by 0.2% in August after riots earlier in the month affected trade. The fall followed slower growth in the previous two months after sales rose just 0.2% in July and 0.8% in June. In the meantime, food sales were also down – [...]

September 15, 2011 | 0 Comments More
Obama administration downgrade US economic growth prospects

Obama administration downgrade US economic growth prospects

There have been fears of late that the US economy could fall back into recession this year but the Obama administration does not envisage this and is predicting growth of 1.7% this year – albeit 1% less than its forecast earlier this year. Official data from the Commerce Department show the economy grew by just [...]

September 2, 2011 | 0 Comments More
US consumer spending up in July

US consumer spending up in July

Official figures have revealed a rise in consumer spending in the US for the month of July – boosted by an increase in car sales. According to the Commerce Department, sales rose by 0.8% in July compared with the previous month – the largest rise in five months and much better than the 0.5% gain [...]

August 30, 2011 | 0 Comments More
UK Q2 economic growth figures unchanged, US revised down

UK Q2 economic growth figures unchanged, US revised down

The Office for National Statistics (ONS) has revealed the UK economy grew by 0.2% in the April to June period – unchanged from a previous estimate published last month. A third and final estimate will be available next month. However, growth for the second quarter slowed from the 0.5% growth posted in the first quarter. [...]

US consumer spending down in June

US consumer spending down in June

The Commerce Department has today reported an unexpected fall in consumer spending in the US for the month of June. Spending fell 0.2% on the month – the first fall in almost two years – suggesting the economic recovery is losing momentum. Furthermore, the figures confounded analysts’ expectations for a 0.1% increase. Consumer spending is [...]

August 2, 2011 | 0 Comments More
US consumer spending unchanged in May

US consumer spending unchanged in May

The Commerce Department has today reported consumer spending in the US was flat in May. This was the first month since September 2009 that there was no growth, surprising analysts who had expected a 0.1% rise. Consumer spending is closely monitored as it accounts for approximately 70% of total economic output. However, many analysts said [...]

June 27, 2011 | 0 Comments More
Tesco UK sales hit by weak consumer spending

Tesco UK sales hit by weak consumer spending

Supermarket giant Tesco has today reported a fall in UK like-for-like sales but said overseas sales remained strong. British shoppers continue to rein in their spending due to economic uncertainty and Government spending cuts which led to a fall of 0.1% in sales for the 12 week period to 28 May – worse than the [...]

June 14, 2011 | 0 Comments More
John Lewis reports weaker sales

John Lewis reports weaker sales

The John Lewis Partnership, which is regarded as a barometer of British retailing, today reported weaker sales, fuelling fears about consumer spending. The renowned employee-owned chain said sales in the week to 28 May fell 0.8% to £55 million. The company has bucked the trend when it comes to retail sales over the last few [...]

June 3, 2011 | 0 Comments More
US consumer spending up in April

US consumer spending up in April

The Commerce Department has today reported a rise in consumer spending in the US for the month of April – due, in part, to higher food and energy costs. Spending grew 0.4% on the month – the tenth consecutive monthly increase but the figure was less than analysts had expected. Consumer spending is closely monitored [...]

May 27, 2011 | 0 Comments More
US Q1 economic growth figures remain unchanged

US Q1 economic growth figures remain unchanged

The Commerce Department has today revealed the US economy grew by an annualised 1.8% in the first quarter - unchanged from the first estimate and less than analysts’ expectations of a 2.1% growth rate. However, today’s estimate is only the second reading and the third and final reading will be available next month and could [...]

May 26, 2011 | 0 Comments More
M&S profits up but is cautious about consumer spending pressures

M&S profits up but is cautious about consumer spending pressures

British retailing giant Marks & Spencer (M&S) has today reported a 13% rise in annual profits to £714.3 million. Meanwhile, international sales grew 6.1%, while sales in the online operation rose 31%. However, despite the positive figures, the 127-year-old retailer which sells clothes, food and homewares, said the coming year will be challenging due to [...]

May 24, 2011 | 0 Comments More
Thailand’s economic growth boosted by exports

Thailand’s economic growth boosted by exports

May 23, 2011 | 0 Comments More
UK High Street in for a challenging time says think tank

UK High Street in for a challenging time says think tank

Respected think tank, Ernst & Young ITEM Club, has today said UK retailers are in for a tough time as household incomes become even further squeezed amid rising inflation and soaring energy bills. The think tank is forecasting consumer spending to rise by just 2% a year in the next decade as family finances are [...]

May 16, 2011 | 0 Comments More
Household incomes to fall for fourth consecutive year

Household incomes to fall for fourth consecutive year

UK households face a typical £780 drop in disposable income this year, the BBC has reported. A study by Deloitte, seen by the broadcaster, argues that tax rises, government spending cuts and higher commodity prices will force inflation above its current 4% level. The financial services firm therefore predicts that 2011 will see real earnings [...]

May 3, 2011 | 0 Comments More
US Q4 economic growth figures revised upwards

US Q4 economic growth figures revised upwards

The Commerce Department has today revealed the US economy grew by an annualised 3.1% in the October to December period – higher than the previous estimate of 2.8%. It was also slightly better than analysts forecast of a 3% growth rate. The upward revision in GDP was attributed to higher consumer spending - which grew [...]

March 25, 2011 | 0 Comments More