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Covid strikes back politico.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.com Daily Mail and Mail on Sunday newspapers.
U.S. Retail Sales Rose Strongly on Stimulus in January lnt.ma - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lnt.ma Daily Mail and Mail on Sunday newspapers.
Provided by Dow Jones By Harriet Torry U.S. shoppers sharply increased spending in January, buoyed by stimulus payments that many households received in the most recent virus-relief package. Retail sales, a measure of purchases at stores, at restaurants and online, rose by a seasonally adjusted 5.3% in January from a month earlier, the Commerce Department said Wednesday. The increase followed three months of decline during the holiday season. It was the strongest gain since last June, when the economy was in the process of reopening from pandemic-related closures. It s hard not to see a message here that the stimulus worked in January to support a turnaround after a decline in early winter, said Robert Rosener, senior U.S. economist at Morgan Stanley, referring to the $600-a-recipient stimulus checks distributed in early January. ....
Provided by Dow Jones By Harriet Torry Early signs point to an uptick in consumer spending at the start of the year, particularly by lower- and middle-income households receiving payments through the most recent Covid-19 relief package. Spending by consumers who make less than $60,000 a year jumped by more than 20% in the week ended Jan. 10 the week after the U.S. Treasury Department began electronically sending stimulus payments of $600 per adult and $600 per child for individuals with adjusted gross incomes under $75,000 according to the research group Opportunity Insights tracker of figures from Affinity Solutions, which collects consumer credit- and debit-card spending data. ....
Early signs point to an uptick in consumer spending at the start of the year, particularly by lower- and middle-income households receiving payments through the most recent. | February 17, 2021 ....