Tag US

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U.S. consumer spending up 0.8% in October

According to the U.S. Commerce Department, personal spending by U.S. consumers rose 0.8% in October, in line with analysts’ expectations, after increasing 0.6% in September. In addition, personal income rose 0.4% in October, while savings fell to 2.3%, the lowest…

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U.S. GDP grew more strongly than expected in Q3/2022

The Department of Commerce has published its second estimate of gross domestic product (GDP) for the third quarter. According to this estimate, the economy grew by 2.9% in this quarter, exceeding the first estimate of 2.6% and analysts’ expectations of…

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Thanksgiving online shopping hits the $5 billion mark

According to Adobe, online consumer spending reached $5.29 billion on Thanksgiving Day, the highest level in history. This spending is 2.9% higher than last year. According to Adobe, consumers spend an average of $2-3 billion per day online. Adobe also…

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U.S. new home sales up in October

The U.S. Commerce Department reports that new home sales rose 7.5% in October to 632,000 units. Contrary to the forecast, which fell to the level of 570,000 units. Year-over-year, new home sales fell 5.8% in October. Meanwhile, the Commerce Department…

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Orders for durable goods in the U.S. up 1.0% in October

According to the U.S. Commerce Department, orders for durable goods such as aircraft, automobiles and large machinery with a life of three years or more rose 1.0% in October, following a 0.3% increase in September. Orders for durable goods were…

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Leading Conference Board economic index declines for 8th month

The Conference Board announced that its Leading Economic Index (LEI) fell 0.8% in October after declining 0.5% in September, the eighth consecutive month of decline. Analysts had expected the index to fall by only 0.4% in October. The Conference Board…

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U.S. housing starts drop 4.2% in October

The U.S. Department of Commerce reported that new residential construction in October fell 4.2% from the previous month to 1.425 million units. The figures for housing starts were impacted by an increase in the price of building materials and the…

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