Okay, let's uh let's keep doing this, Steve. It's it's pretty interesting. For more on all this data, I want to bring in uh Hyundai Yuba Yuva, uh senior US economist at BFA Securities.You're sitting there with Steve. What do you what do you what do you think of what you just heard. >> I think this is a very very impressive GDP report.As Steve correctly pointed out, 8% essentially nominal GDP growth. Consumer spending really beat expectations. This is pretty unusual.I mean we had the monthly data for July, A ...

The US economy expanded in the third quarter at the fastest pace in two years, bolstered by resilient consumer and business spending and calmer trade policies. https://t.co/X5JPdsIVco ...

Economic concerns don't seem to be having a large impact on holiday shopping this season. According to a new Visa analysis, it shows that retail sales increased by 4.2% year-over-year across all payment types. That includes cash and checks.And join us right now with a lot more on that report is Michael Brown, principal US economist for Visa. What was the biggest surprise for you. >> Was just the resilience of consumers.uh as you pointed out, we have seen sort of soft much softer consumer uh sentiment and an ...

Core Insights - Economic concerns have not significantly impacted holiday shopping, with retail sales increasing by 4.2% year-over-year across all payment types, including cash and checks [1] - Despite softer consumer sentiment and confidence compared to the previous year, consumer spending has remained resilient [2] - Even when adjusting for inflation, retail sales are still projected to be up by approximately 2.2% in inflation-adjusted terms [3] Consumer Behavior - There is a noticeable bifurcation in consumer spending, with the bottom 25% of income earners experiencing positive wage growth, albeit lower than the previous year [4][5] - A shift in consumer spending from goods to services has been observed, particularly among younger consumers, with increased interest in travel and experiences during the holiday season [6] Future Projections - Tax refunds are expected to be slightly larger in the coming year due to a recent tax cut package, which may boost early-year consumption [7] - Modest inflation is anticipated throughout the year, along with potential Federal Reserve rate cuts, supporting consumer spending growth projected at around 2.8% year-on-year, an increase from the estimated 2.6% for the current year [8]

We talked about this when we were recapping the Black Friday sales, which were good, but there was a lot of buy now pay later in there. If everyone is like buying their Black Friday purchases on, you know, on layaway or on the equivalent of layaway, that sounds like people don't have enough money. They're spending beyond their means.You tack that on with default rates going up on credit cards and you're like, uhoh, this seems bad. This seems like fintech industry has gotten together with the retail industry ...

Welcome back to Money Movers. Retailers bracing for the final stretch of the holiday shopping season. This year is expected to be a record period for retail sales according to the NRF with spending expected to exceed a trillion dollars for the first time.NRF also confirming that turnout this last Saturday likely hit a new high of nearly 160 million shoppers, exceeding the previous record in 2022. Joining us this morning is the president and CEO of the National Retail Federation, Matt Sheay. Matt, welcome ba ...

Key Takeaways Forecasters believe the economy grew at a fast pace in the third quarter, though the report was delayed by the government shutdown and the data is getting stale. Beneath all the turmoil, economists believe the economy continued to expand in the third quarter, powered by the main engine of economic growth: consumer spending. Related Education Real Gross Domestic Product (Real GDP): How to Calculate It, vs. Nominal What Are Tariffs and How Do They Affect You? "Available data suggest that the eco ...

Easing UK inflation is putting extra money in consumers’ pockets ahead of Christmas, with last-minute shopping also boosting footfall https://t.co/P9T3CSBBow ...

Over the years, Christmas-tree sales have been a decent indicator of how overall consumer spending is doing. This year, the needles are pointing to a more cautious consumer.🔗: https://t.co/HrCnOIaHPj https://t.co/4yyp1F5LrI ...

US consumers spent the past year getting more worried about their wallets and the future: Here’s your Evening Briefing https://t.co/JwUmcayw79 ...