The worst U.S. drought in at least 50 years may restrain consumer confidence and spending as it pushes Americans’ grocery bills higher later this year.
Consumer spending in the U.S. is rising even though hourly pay isn’t. The reason: More Americans are finding jobs and putting in longer hours in the office and on the factory floor.
U.S. Treasury Secretary Jacob J. Lew is trying to persuade Congress to raise the $16.7 trillion debt ceiling without the drama that contributed to a stock market rout in 2011. A stronger economy this time around may help keep investors calm.
A welcome relief from rising health- care costs for U.S. consumers is being less warmly received at the Federal Reserve.
Wholesale prices in the U.S. unexpectedly fell in May, suggesting demand isn’t robust enough to push inflation closer to the Federal Reserve’s target.
The cost of living in the U.S. was little changed in July for a second month, showing companies lack pricing power.