US consumer spending fell in May as Americans struggled with historically high inflation levels. Personal incomes increased by 0.5%, but decreased when adjusted for inflation and taxes. The savings rate inched up to 5.4%, but is significantly lower than its pandemic-era peak of over 30%. Last month, US consumer spending fell more than anticipated as … Read more
Small businesses have called government programme to decrease prices a “slap in the face.” Federation of Small Business says it is unrealistic to want businesses to “soak up expenditures”. Advertising campaign was suggested by David Buttress, the government’s new cost of living tsar. A new government initiative to push companies to lower their pricing to … Read more
US consumer confidence reached its lowest level in more than a year due to rising food and fuel prices. Discretionary expenditure is anticipated to decline in the coming months. Consumers were more negative about present business conditions and the labour market, but more concerned about the prospects for the next six months. According to a … Read more
U.S. families are presently spending what might be compared to $5,000 a year on fuel, up from $2,800 a year prior, as per Yardeni Research. In March, the yearly pace of gas spending was at $3,800, Yardeni noted. During the seven day stretch of May 16, the public retail cost for gas arrived at a … Read more
S&P Global Ratings has revised Bahrain’s outlook to ‘stable’ from ‘negative’ on the back of new fiscal reforms aimed at improving non-oil revenues and cutting state spending, Reuters quoted the ratings agency, as saying in a statement. Rated below investment grade, Bahrain was bailed out to avoid a credit crunch in 2018 with a $10 … Read more
ISLAMABAD: The Sensitive Price Indicator (SPI) inflation witnessed a slight increase of 0.41 per cent during the week ended July 15, compared with the previous week, the data released by the Pakistan Bureau of Statistics showed on Friday. During the week under review, prices of 23 items (45.1 per cent) witnessed an increase, 7 items … Read more
