[ad_1] The COVID-19 omicron variant impacted the retail and restaurant industry during the critical holiday season, a time period many were counting on to make up for losses. But new data shows that as fast as the variant swept through cities across the country, it may roll out just as quickly to allow consumers and […]
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[ad_1] Consumers pulled back their spending in December, as spiraling coronavirus caseloads kept many Americans at home late in the holiday season. Spending fell 0.6 percent last month, the first decline since February, the Commerce Department said Friday. Rapidly rising prices meant that spending, adjusted for inflation, fell 1 percent. The decline offered some of […]
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[ad_1] Consumer spending, a key engine of economic growth, has shown signs of stalling heading into 2022, amid rising prices and the Omicron wave. Economists surveyed by The Wall Street Journal estimate that consumer outlays declined by 0.7% in December from the prior month, as prices rose at their fastest pace in nearly four decades. […]
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