US consumer spending, inflation and the labor market all cooled in recent weeks, adding to evidence that the economy is slowing. Inflation-adjusted personal spending rose 0.2% last month after a downwardly revised 0.3% advance in September, according to the Bureau of Economic Analysis. Separate data Thursday showed recurring applications for unemployment benefits rose to the … Read more
European inflation is falling faster than the European Central Bank had expected, slowing to a 2.4% annual pace in November after peaking at 10.6% in October 2022. The central bank will struggle to insist on its “higher for longer” interest-rate stance if the euro-area economy continues to weaken even as consumer price increases ebb. Significantly, … Read more
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The US economy grew at an even faster pace in the third quarter than originally estimated, reflecting upward revisions to business investment and government spending. Gross domestic product rose at an upwardly revised 5.2% annualized pace in the third quarter, the fastest in nearly two years. Consumer spending advanced at a less-robust 3.6% rate, according … Read more
US underlying inflation picked up along with consumer spending as the third quarter drew to a close, government figures showed ahead of the Federal Reserve’s penultimate policy meeting of the year. Consumer price growth also gathered pace in Tokyo, an indicator of nationwide inflation. Bank of Japan officials also meet next week, as do Bank … Read more
The US economy grew at the fastest pace in nearly two years last quarter on a burst of consumer spending, which will be tested in coming months. Gross domestic product accelerated to a 4.9% annualized rate, more than double the second-quarter pace, according to the government’s preliminary estimate Thursday. The economy’s main growth engine — … Read more
I’m Chris Anstey, a senior economy editor in Boston, and today we’re looking at expectations for US GDP. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here. One and … Read more
You might think business credit cards exclusively belong to corporate middle managers who use them to pay for overpriced meals and hotel rooms. But if you run your own side hustle or have launched a start-up, there’s a good chance you can get one of these cards — and they have plenty of uses beyond … Read more
Economists raised their US growth projections through early 2024 and trimmed the odds of any downturn to a one-year low as consumers continue to spend. The American economy probably expanded at an annualized 3.5% rate in the third quarter, the fastest in nearly two years, as forecasters marked up their household spending forecasts. And while … Read more
This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, White House correspondent Justin Sink looks at President Joe Biden’s meeting with chief executives about the economy. Sign up here and follow us at @bpolitics. Email our editors here. The White House asked executives meeting the president today to … Read more