WASHINGTON, April 14( Xinhua)--U.S. retail sales rose 0.5 percent in March amid persistent surging inflation, after a revised 0.8 percent rise in the previous month, the Commerce Department said Thursday. Retail sales totaled 665.7 billion U.S. dollars in March, 6.9 percent above March last year, according to the report.A 1.2 percent drop in vehicle sales, which are still in short supply," took a toll on overall gains," Diane Swonk, chief economist at major accounting firm Grant Thornton, noted

The US trade deficit widened sharply to$ 80.2 billion in November 2021 as imports surged, the Commerce Department reported.In a statement on Thursday, the Department said that US exports rose by 0.2 per cent to$ 224.2 billion in November, while imports increased by 4.6 per cent to$ 304.4 billion, reports Xinhua news agency. The goods and services deficit rose by 19.4 per cent from a revised$ 67.2 billion in the previous month, according to the Department." Strong imports continue to reflect the

That translated to 37.2 million people in poverty, an increase of 3.3 million from 2019. The threshold for meeting the definition of poverty varies by household size and makeup.... For a typical four-person household, it was$ 26, 200 in 2020. The official poverty measure doesn’t reflect how much a household pays in taxes, and it also omits noncash government aid like tax credits, housing subsidies and free school lunches.... Refundable tax credits, such as the earned-income tax credit, did so

by Matthew RuslingWASHINGTON, May 31( Xinhua)--While U.S. consumers have been spending at high levels, a slowdown in consumer spending is on the horizon, economists said. After two years of limiting their travel due to COVID-19 lockdowns and other restrictions, Americans have hit the roads and skies again in growing numbers--and spending big bucks to do it. Record amounts of government stimulus during the pandemic, along with reduced spending on entertainment, travel and related activities, led

WASHINGTON, Feb.... 29( Xinhua)--The U.S. personal consumption expenditures( PCE) price index, the Federal Reserve's preferred inflation measure, rose 2.4 percent in January, as inflation continued to cool amid high interest rates, the Commerce Department reported on Thursday. The latest figure came after the measure in October slowed to 3.0 percent year on year from 3.4 percent in September, before slowing to 2.7 percent in November and then to 2.6 percent in December, according to the Commerc

However, Bank of America Institute data showed strong growth in credit card spending continued into April, especially among lower-income households. Advertisement BusinessAs inflation soars, how is AriZona iced tea still 99 cents?... The unemployment rate is one of the lowest in the last 50 years, and wages are rising, though not as fast as inflation.In the Michigan survey, the overall sentiment gauge jumped in March and exceeded all estimates.... Respondents also said they anticipate continue