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Written by Steven HansenHeadline consumer credit expanded significantly and well above expectations in June. Our analysis of the unadjusted data shows annual growth continues to accelerated year-over-year. ....
May 2021 Consumer Credit Continues To Expand econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
Household spending up 0.1% m/m in April vs f’cast -2.2% Spending surges after taking heavy hit in April last year (Recasts) TOKYO, June 4 (Reuters) - Japan’s household spending jumped in April the most in at least two decades as consumers splurged on cars, clothing and beauty services, though the gains were inflated in part by the sharp comparison to last year’s pandemic-driven plunge. An extension of state of emergency restrictions in Tokyo and other major areas has hurt the outlook for Japan’s economy, which already fell back into contraction in the first quarter due to weak consumer and business spending. ....
4 Min Read (Reuters) - Big U.S. banks are prepared for credit-card balances to start ticking up again this year as pandemic restrictions ease and stimulus checks stop arriving, setting up the industry for a bump in one of its most profitable businesses. FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration//File Photo Lenders, including Capital One, Citigroup and JPMorgan, have been sending out more promotions to enroll new customers and encourage borrowers to spend, said Andrew Davidson of marketing-tracker Mintel Comperemedia. Some 260 million offers were sent in March, the firm estimates. ....
By Reuters Staff 1 Min Read People wait in line to order at a coffee shop as the state of Texas lifts its mask mandate and allows businesses to reopen at full capacity during the coronavirus disease (COVID-19) pandemic in Houston, Texas, U.S., March 10, 2021. REUTERS/Callaghan O Hare (Reuters) - U.S. consumer sentiment unexpectedly dropped in early May as inflation worries sapped confidence in what had been a rapidly brightening economic outlook, a key survey showed on Friday. The University of Michigan’s Consumer Sentiment Index fell 5.5 points to a reading of 82.8, pulling back from the highest level in roughly a year in April. Economists polled by Reuters had been looking for a reading of 90.4, which would have marked the third straight monthly gain. ....