We reported last week that not even lavish holiday spending could save fourth-quarter gross domestic product numbers. Well, it seems that the lure of Christmas shopping couldn't prompt consumers to whip out their wallets and rev up the United States economy. The Department of … [Read more...]
Drop in Consumer Spending Casts Doubts on Economic Growth
United States consumer spending unexpectedly dropped last month for the very first time since the beginning of the first quarter, according to data released Friday by the Commerce Department. Household purchases fell 0.1 percent, down from the 0.4 percent increase from the previous … [Read more...]
Home Prices Indicate Economic Recovery Despite Looming Fiscal Cliff
Economic doomsday theorists may persist in their declarations that an unresolved fiscal cliff spells disaster for the U.S. economy, but recent data from Standard and Poor/Case-Shiller says otherwise. The organization’s national home price index, released Dec. 26, increased 4.3 percent … [Read more...]
McDonald’s Makes a Comeback with Impressive November Sales
McDonald’s Corporation (NYSE: MDO) announced Dec. 10 its global sales in restaurants opened at least 13 months rose 2.4 percent in November. The same figure in the U.S., however, increased by 2.5 percent, compared to just 1.4 percent in Europe. … [Read more...]
Shoppers Plan to Spend More This Holiday Season
Holiday sales will increase by more than 4 percent this year, according to the National Retail Federation. Forecasting total holiday sales of $586.1 billion, the 2012 estimate is higher than the 10-year average holiday sales increase of 3.5 percent, although 2011 sales grew by 5.6 … [Read more...]
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