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Consumer Price Indexs Biggest Annual Drop Since 1950
NEW YORK: The government’s index of prices paid by consumers was unchanged in July from the previous month, but the closely watched inflation gauge recorded its largest over-the-year decline in 59 years. The Labor Department said Friday that its Consumer Price Index has fallen 2.1% over the past 12 months. It was the sharpest over-the-year… »
Consumer Credit Falls 103 Billion In June
NEW YORK: Consumer credit fell in June for the fifth straight month, as widespread unemployment curbed spending, a government report said Friday.Total consumer borrowing sank a seasonally adjusted 10.3 billion, or 4.9%, to 2.503 trillion, according to the Federal Reserve. The report measures how much debt consumers have outstanding.Economists predicted a decline in total borrowing… »
Consumer Bankruptcies Spike In July
NEW YORK: Consumer bankruptcies surged in July to the highest level since October 2005 as U.S. households struggle under the burden of past debt and rising unemployment.Total filings reached 126,434 in July, a 34.3% increase from the same period a year ago and an 8.7% increase over June, according to a report released Tuesday from… »
Consumer Confidence Weaker Than Expected
NEW YORK: A key index of consumer confidence fell more than expected in July as the dismal job market continued to darken the outlook for household spending. The Conference Board, a New York-based business research group, said Tuesday its Consumer Confidence Index fell to 46.6 in July from a reading of 49.3 in June.Economists… »
Consumer Price Index Down 14 Over Year
NEW YORK: A key index of prices paid by consumers rose in June but showed the largest year-over-year decline since January 1950, the government said Wednesday.The Consumer Price Index, the Labor Department’s key measure of inflation, has fallen 1.4% over the past year. That’s the largest drop in more than 59 years, and is due… »
Consumer Debt Falls By 322 Billion
NEW YORK: Consumer debt fell in May, for the fourth straight month, as the still-suffering economy and mounting job losses curbed spending, a government report said Wednesday.Total consumer borrowing fell by a seasonally adjusted 3.22 billion, or a 1.5% annual rate, to 2.52 trillion in May, according to the Federal Reserve. The report measures how… »
Consumer Panel Would Get Broad Power
WASHINGTON: In the debate over how to prevent the next financial crisis, the first fight has already erupted — and it’s over a proposal to create a new agency to protect consumers.On Tuesday, the Treasury Department sent to Congress a 150-page draft of a bill with new details about its plan for a regulator for… »
Consumer Confidence Falls In June
NEW YORK (Reuters) — Consumer confidence fell in June after two straight months of gains.The Conference Board, an industry group, said on Tuesday its index of consumer attitudes dropped to 49.3 from 54.8 in May. The Present Situation Index slid to 24.8 from 29.7.Americans saying jobs are “hard to get” increased to 44.8% from… »
Consumer Reports Knocks Hondas New Hybrid
NEW YORK: Honda’s new hybrid-only Insight, touted as a low-cost competitor to the Toyota Prius was dealt a major blow Monday after it failed to get a thumbs up from the influential magazine Consumer Reports.”The Insight is the most disappointing Honda Consumer Reports has tested in a long time,” said David Champion, director of the… »