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Consumers Remain ‘Willing to Spend’ Even as Growth Slows

Shoppers are still willing to buy even as smaller job and wage gains and high interest rates are slowing the growth of consumer spending, National Retail Federation Chief Economist Jack Kleinhenz said today.

“U.S. economic growth for the remainder of this year will depend on several factors but particularly the pace of job growth, inflation and what actions will be taken by the Federal Reserve,” Kleinhenz said. “The good news is that the economy is growing, inflation is moderating, and overall fundamentals look fine as increased consumer spending supports underlying momentum.”...

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Jun 5 8:00 AM, Urner Barry



First Quarter Results Show Economy is Slowing but ‘Remains Resilient’

Economic growth slowed during the first three months of the year, but consumers are still spending more than last year, National Retail Federation Chief Economist Jack Kleinhenz said today.

“The U.S. economy lost some spring in its step during the first quarter as the pace of growth declined, and the downshift came with an unexpected bout of inflation,” Kleinhenz said, noting that prices for services are still increasing even as prices for goods level off. “But even with signs that the economic expansion is decelerating, the economy remains resilient...

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May 7 12:20 PM, Urner Barry


Despite ‘One Thing’ or ‘Another,’ NRF Economist Says U.S. Economy Still Shows Resilience

The U.S. economy is continuing to grow even as labor disputes across the country and uncertainty created by Congress add to the ongoing challenges of inflation and high interest rates, NRF Chief Economist Jack Kleinhenz said today.

”As Gilda Radner used to say on Saturday Night Live, ‘If it’s not one thing, it's another,’ ” Kleinhenz said. “This is certainly one of those times when that expression fits well with what is going on in the economy.”

“New turbulence from the expanding autoworkers strike and the threat of...

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Oct 9 8:16 AM, Urner Barry


US Q2 GDP Growth Unrevised at 2.1%; Weekly Jobless Claims Edge Higher

The U.S. economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday, and appears to have gathered momentum this quarter amid a resilient labor market.

Gross domestic product increased at an unrevised 2.1% annualized rate last quarter, the Commerce Department said in its third estimate of GDP for the April-June period on Thursday. Economists polled by Reuters had expected GDP for the second quarter would be unrevised.

Growth for the first quarter was revised up to a 2.2% rate from...

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Sep 28 8:53 AM, Urner Barry







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