Americans’ outlook of the U.S. economy rose in June to a one-year high, driven by an improving job market that has the potential to boost spending.
American consumers paused for breath in May as retail sales climbed less than forecast following an impressive three-month run, tempering forecasts for a rebound in growth this quarter.
Retail sales rose less than forecast in May as American consumers took a respite following a three- month surge in shopping that has underpinned economic growth.
Less is more for the U.S. economy, which suffered its first contraction since 2011 last quarter.
Lowe’s Cos., the second-largest U.S. home-improvement retailer, posted first-quarter profit that topped analysts’ estimates as better merchandising choices helped it withstand weaker demand caused by harsh weather.
American shoppers dialed it back in April after spending at the fastest pace in almost five years.
Contracts to purchase previously owned homes rose for a second month in April, a sign the residential real estate market is stabilizing after a weak start to the year.
Home prices in 20 U.S. cities rose at a slower pace in the year ended in March as the housing market began to weaken at the start of 2014.
Previously owned U.S. home purchases increased in April as a bigger supply of properties lured buyers and raised prospects for a stronger spring buying season.
More Americans than projected filed applications for unemployment benefits last week, showing uneven progress in the labor market.
"Homeowners increasingly believe that improvements made to their homes will increase their value, and consumers' views around personal finances continue to improve."
- Robert Niblock on Jun 12, 2014