个人支出是美国经济的主要引擎，占总产出的三分之二以上。在第三季度，正是个人支出的表现推动了美国国内生产总值（GDP）实现了4.4%的年化增 长。 所谓的核心零售销售——即扣除汽车、汽油、建筑材料和餐饮服务后的数据，该指标与GDP中关键的消费支出部分联系最为紧密——在11月增长0.4%后， 12月也基本持平。此前经济学家曾预计该项数据将增长0.3%。 SHMET 网讯:美国12月零售销售额较上月相比意外持平，这一关键经济指标的放缓幅度超出了市场预期。 在2025年的最后一个月，零售销售增长率为0.0%，而此前经济学家的普遍预期为增长0.4%。相比之下，11月份的零售销售额增长了0.6%。 这份报告为本该稳健的2025年消费市场画上了一个低沉的句号。尽管在2025年的大部分时间里，高端消费者的支出非常活跃，但低收入群体的消费态度则更 为谨慎。此外，由于12月消费者价格指数（CPI）上涨了2.7%，这意味着消费增速未能跑赢通胀。 数据公布后，现货黄金短线涨幅扩大至20美元，美元指数短线走低十余点。 在13个零售类别中，有8个类别出现下降，包括服装店和家具店。汽车经销商销售额同样下滑。与此同时，建筑材料商店和体育用品 ...

新华财经纽约2月11日电（记者刘亚南）美国商务部10日发布的初步数据显示，美国2025年12月零售额 为7350亿美元，环比零增长，显著低于市场预期的0.4%和前月0.6%的增长。 数据显示，当月，美国汽车及零部件、家具、电子产品与家电、服装、健康与个人护理产品等销售额环 比下降，建材、汽油、食品饮料等销售额环比上升。数据同时显示，去年12月，美国零售额同比增长 2.4%，低于当月消费者价格指数2.7%的同比涨幅，实际消费萎缩。 美国行业金融机构海军联邦信贷联盟首席经济学家希瑟·朗说，汽车、家具、家电和服装等产品因受关 税严重冲击而销售疲软。 研究机构凯投宏观北美经济学家托马斯·瑞安预测，美国1月消费数据很可能因为部分地区的极寒天气而 表现疲弱，2026年一季度美国消费增速预计将大幅放缓。 （文章来源：新华社） ...

Core Insights - The U.S. retail sales for December 2025 are projected at $735 billion, showing no month-over-month growth, significantly below the market expectation of 0.4% and the previous month's growth of 0.6% [1] - Sales in categories such as automobiles, furniture, electronics, clothing, and health and personal care products experienced a month-over-month decline, while sales in building materials, gasoline, and food and beverages saw an increase [1] - Year-over-year, U.S. retail sales grew by 2.4% in December, which is lower than the consumer price index increase of 2.7%, indicating a real contraction in consumer spending [1] Economic Analysis - Heather Long, chief economist at Navy Federal Credit Union, noted that tariffs have severely impacted sales in automobiles, furniture, appliances, and clothing, leading to weak performance in these sectors [1] - Thomas Ryan, an economist at Capital Economics, predicts that January's consumer data may be weak due to extreme cold weather in some regions, and a significant slowdown in consumer growth is expected in the first quarter of 2026 [1]

Core Insights - Despite facing macroeconomic and geopolitical risks, consumer spending in the Philippines is expected to continue growing over the next two years, although at a slower pace [1] Group 1: Consumer Spending Forecast - The report predicts that the real household consumption growth rate in the Philippines will reach 5.0% in 2024 and slow down to 4.5% in 2025 [1] - By 2025, the total household consumption is expected to increase to 13.1 trillion pesos, calculated at 2010 prices [1] Group 2: Economic Influences - Inflationary pressures and high debt levels may suppress consumption, but a tight labor market is expected to support residents' purchasing power [1] - The report warns that economic risks in major remittance-sending countries like the US and Europe could impact remittance income, while high household debt and low consumer confidence may also constrain consumption potential [1] Group 3: Future Projections - The inflation rate is expected to decline to 2.2% by 2025, but the peso may depreciate to 58 pesos per US dollar [1] - Consumer spending growth in the Philippines is projected to rebound to 6.0% in 2026, although global risks such as trade protectionism and supply chain disruptions remain uncertain [1]