Are You Spending Less Money? »
Posted By Newperson 2 weeks ago in Business & Finance
Americans spent about the same amount in October as in August and September, according to figures released Thursday by a key data service, and they may be settling into new low-spending habits.
Including everything from toys to food, but not cars or gasoline, U.S. retail sales rose slightly in October — 1.5 percent — from a year earlier even as consumers grappled with rising unemployment and tight credit.Compared with the month before, however, sales fell 2.3 percent in October, the biggest month-to-month decline since December 2008.
Thursday's figures from SpendingPulse, a service of MasterCard Advisors, are an estimate of spending in all forms including cash and offer fresh evidence that the holiday shopping season may be challenging for retailers.Macy's Inc. said Wednesday that its sales have improved in recent months, and it reported a smaller third-quarter loss than a year earlier. But CFO Karen Hoguet said things remain very uncertain heading into a season that's crucial for most retailers.A parade of earnings reports due Thursday and Friday from Wal-Mart Stores Inc., Nordstrom Inc., Kohl's Inc. and J.C. Penney Co. will offer a more textured read on consumers' recent spending.
Many economists and retail analysts expect spending to remain low for a while. Federal Reserve officials warned Tuesday that unemployment probably will stay high for several years, even if signs of economic recovery take hold
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Newperson
From the day we are born were all travelers just passing through. And i'm happy to have a wonderful loving wife to pass through ...
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Kimba68681 week, 6 days ago
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Maybe people are tired of being forced to support a communist country like China? I don't spend money on the poor products available at most stores because they are made in China. Are all big business's against American workers and products...seems like it?
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