Similar Stories to May Consumer Spending Has Biggest Annual Drop Since Great Financial Crisis, Gallup Survey Finds on Bing News

It may not have the clout of the official monthly Dept of Commerce Retail Sales report not due out for two more weeks, but in retrospect considering how many credibility issues with seasonal adjustments government data has had in recent months, the Gallup Consumer Spending report may have become far more realistic than official government data.In which case all hope of a Q2 GDP rebound abandon, ye who read this: after a strong April, in which the average consumer reported a daily spend of $91, $3 higher than a year prior, and the highest spending month since before the great financial...

BING NEWS:
  • Economy grew just 1.3% last quarter, consumer spending was weaker than expected
    Spending on goods such as appliances and furniture fell at a 1.9% annual pace, the biggest such quarterly drop since 2021. Still, services spending rose at a healthy 3.9% clip, the most since mid ...
    05/30/2024 - 8:44 am | View Link
  • The consumer slowdown is here and it's flashing a recession warning for the economy
    A survey conducted ... from the 2008 financial crisis. Danielle DiMartino Booth, a top forecaster who's been making the case the US is already in a recession, says consumer spending has taken ...
    05/16/2024 - 5:56 am | View Link
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