How China’s shifting growth picture could hit global markets
A shopping mall in Qingzhou, Shandong province, broadcasts the opening ceremony of China’s National People’s Congress on Sunday, March 5, 2023.Future Publishing | Future Publishing | Getty ImagesChina’s economy will be forced to recalibrate because of a “fractured” global order, and the new drivers of growth will “disappoint” global markets, according to David Roche, president […]
Amid stubborn inflation, 60% of Americans live paycheck to paycheck
Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room.As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report. That’s down from 64% a year earlier, suggesting […]
54% of Americans are dipping into savings to pay for everyday expenses
Inflation is still taking a hefty toll on households, recent reports show.Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics.To make ends meet, 27% of Americans said they’ve had to take money […]
A new inflation warning for consumers coming from the supply chain
An Optoro warehouse in Tennessee that handles returns for retailers.Source: Matt Adams | OptoroAs the markets prepare for the latest consumer price index data on Tuesday, logistics managers are warning of a persistent source of inflation in the supply chain, and saying consumers should be ready for the impact it will have on their wallets. […]
Wholesale egg prices have ‘collapsed’ from record highs in December
Egg shelves in New York on Jan. 21, 2023 with a note apologizing to customers for the price increase.Fatih Aktas/Anadolu Agency via Getty ImagesWholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store.But the dynamics of egg pricing from the wholesale to retail market, […]
Gold demand surged to 11-year high on ‘colossal’ central bank buying
Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Alexander Manzyuk | ReutersGold demand soared to an 11-year high in 2022 on the back of “colossal central bank purchases, aided by vigorous retail investor buying,” according to the World […]
Fourth-quarter 2022 GDP: What economists are expecting
Economic growth is expected to have slowed slightly in the fourth quarter but was still solid, driven by a strong consumer.Economists will be studying Thursday’s report on U.S. gross domestic product carefully for signs of how strong or weak the consumer actually was at the end of 2022. Retail sales suggest spending fell off sharply […]
Inflation is cooling, but high prices will stick around
A shopper checks out the egg section at the Publix at Winter Park Village, Tuesday, Jan. 17, 2023.Joe Burbank | Orlando Sentinel | Tribune News Service | Getty ImagesInflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged.In the months ahead, the big […]
The U.S. is massively underperforming global markets
A trader works on the trading floor at the New York Stock Exchange (NYSE), January 5, 2023.Andrew Kelly | ReutersU.S. stocks have fallen far short of their global peers over the past three months, a rarity in recent years, and analysts expect this divergence to widen over the course of 2023.As of Tuesday morning, the […]
Americans lean heavily on credit cards amid inflation
D3sign | Moment | Getty ImagesWith day-to-day expenses staying high due to inflation, more Americans are relying on credit cards to make ends meet.As the personal savings rate sank near an all-time low, credit card balances jumped 15% year over year, according to the latest quarterly report from the Federal Reserve Bank of New York, notching […]