Signs of strength in consumer spending could potentially elicit ‘more aggressive action’ from the US Fed.
The pullback in consumer spending will likely be welcomed by Fed officials, who are seeking to cool the economy.
The broad drop in sales together with subsiding inflation should lead to a slowdown in the pace of interest rate hikes.
The sixth straight year-over-year slowdown is raising hopes that the worst inflation bout is steadily waning.
While economic activity is slowing amid rising interest rates, it’s not enough to discourage US Fed from more rises.
Drop indicates higher borrowing costs and the threat of an imminent recession were starting to impact spending.
Steady job growth, rising wages, and higher savings have enabled surprisingly steady spending by consumers.
Rising energy and food prices, sparked by the Russia-Ukraine war, and shrinking forex reserves have hit Bangladesh.
A bump in sales of high-priced Starbucks coffee and cold drinks in North America helped cushion a revenue drop in China.
Amazon’s efforts to boost revenues may not pay off as inflation and receding consumer demand bite into profits.
But the deal could stifle competition and lead to higher prices for Americans already grappling with surging inflation.
Surging prices for everything from mortgages to rent have upped anxiety levels, shifting spending towards necessities.
TikTok plans to operate its own US warehouses, including the kind of packing and shipping facilities used by Amazon.
Gutstavo Arnal, the 52-year-old CFO of the struggling big-box chain, fell to his death on Friday in New York.
