Consumers are buying fewer discretionary goods and returning more. To clear their shelves, retailers are selling to liquidators at steep discounts.
Tag: Consumer Behavior
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U.S. Economy Shows Another Decline, Fanning Recession Fears
Gross domestic product, in an initial reading, fell 0.2 percent in the second quarter. President Biden said any troubles would be transitory.
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Here Are the Highlights From Today’s G.D.P. Report
Inventories were a big drag on the G.D.P. number. Construction of homes and nonresidential structures declined. And federal spending fell.
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Consumer spending continues to shift from goods to services.
Americans spent only a little more in the second quarter overall, as a decrease in purchases of stuff was offset by experiences.
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Here Are the Highlights From Today’s G.D.P. Report
Inventories were a big drag on the G.D.P. number. Construction of homes and nonresidential structures declined. And federal spending fell.