By Vivekanand Jayakumar, The Hill Once again, U.S. consumers are sharply reorienting their spending patterns — the two-year-long pandemic-induced spending splurge on durable goods appears to be waning just as pent-up demand for services takes off. Despite inflation remaining near 40-year highs, overall consumption expenditure in the U.S. remains quite
By Celine Castronuovo, The Hill Consumer confidence continued to rise in July and is now nearing pre-pandemic levels amid a boost in economic activity following loosened coronavirus restrictions. The Conference Board’s monthly survey found that while the consumer confidence index had a modest increase from 128.9 in June to 129.1
By Ben Luthi, Investopedia Credit card debt has continued to drop in the U.S., down to $978.8 billion in November, the Federal Reserve reports. The latest numbers are part of a steady decline since the beginning of the coronavirus pandemic in March. Credit card debt had hit a record high
By Paul Davidson, USA Today Stan Novak, of Valencia, California, has been hunkering down this year amid the coronavirus pandemic, spending little beyond the bare essentials. But after a flurry of positive news reports this month about COVID-19 vaccines, Novak ventured out to department stores on a recent weekend and
