consumers

'Exuberant spending' could follow pandemic, Powell says

Washington (AFP) - The United States could see a boost of "exuberant spending" after the pandemic that causes price increases, but that may not lead to a spike in inflation, Federal Reserve Chair Jerome Powell said on Thursday. "As the pandemic recedes and we see potentially a strong wave of spending as people return to their normal lives and begin consuming various services, there could be quite exuberant spending and we could see some upward pressure on prices," Powell said during a talk hosted by Princeton University. The world's largest economy has seen little inflation as it struggles wit...

Mixed retailer optimism on 'Black Friday' amid pandemic

New York (AFP) - The coronavirus is clouding "Black Friday" much as it has overshadowed 2020 in general, but some leading experts still expect strong overall sales even as shopping patterns are altered.The more bullish case for the holiday shopping season cites robust demand for bigger-ticket items such as home improvement projects, new computers and home fitness machines as more people work from home and e-commerce grabs an ever-increasing share of the overall market.Malls were open for business as usual on Friday, but there were early indications that the day-after-Thanksgiving crowds were m...

Mixed retailer optimism on 'Black Friday' amid pandemic

New York (AFP) - The coronavirus is clouding "Black Friday" much as it has overshadowed 2020 in general, but some leading experts still expect strong overall sales even as shopping patterns are altered.The more bullish case for the holiday shopping season cites robust demand for bigger-ticket items such as home improvement projects, new computers and home fitness machines as more people work from home and e-commerce grabs an ever-increasing share of the overall market.Malls were open for business as usual on Friday, but there were early indications that the day-after-Thanksgiving crowds were m...

Republican consumer sentiment plunges after Trump defeat: survey

Washington (AFP) - Sentiment among Republican consumers plunged this month after US President Donald Trump lost his bid for a second term, according to a survey released Friday.Fears rise that surging Covid-19 cases will worsen the economy also hit the University of Michigan's consumer sentiment index which fell to 77.0 early this month, a worse-than-expected drop of nearly six percent from October.Consumers' views of the current situation and expectations for the future also declined, the survey showed.The survey's chief economist Richard Curtin tied the swing to the November 3 election in wh...