Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
Consumer Spending Increased in October Despite Shutdown
WASHINGTON (11/25/13)--Major events in October appear to have had little impact on consumer habits, according to data released Friday by the Commerce Department.
 
A measure of retail sales increased by 0.4% in October after remaining stagnant in September. Both the government shutdown and the introduction of the iPhone 5 appear to have done little to sway consumer behavior.
 
Retail spending increased on an annual basis by 3.9% in October, but Moody's said that it remains relatively weak. The financial analysts also said that volatility has been a theme in retail sales data this year, with different industries leading sales increases almost every month--a sign, Moody's says, of consumers releasing pent-up demand that is being bogged down by slow wage growth (Economy.com Nov. 22).
 
The segments of the index that saw most gains in October were furniture, electronics and appliances, apparel and sporting goods stores and restaurants. Auto sales were also strong last month, but primarily in the used car market.
 
Revisions of previously released Commerce Department data were small. Growth in August is still at 0.2%, and growth in September was revised down to 0% from 0.1%


RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
12 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
7 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
7 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
9 hours ago