Retail sales probably rose at a faster pace in August as Americans bought more cars and trucks, a sign spending will help sustain economic growth in the second half of the year, economists said before a report this week.
Ryan Yang could have taken a job in a New Jersey DNA sequencing laboratory after graduating from college last year. Instead, the 23-year-old lives with his family in Queens, New York, still unemployed and searching.
A strengthening U.S. recovery means the depressing influence of the winter storms that disrupted travel from Chicago to New York over the past few days and blanketed much of the country in January will be temporary, economists said.
Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.