“The June data confirm the strong initial phase of the recovery, but we caution that rear-view mirror economics could drive us off a cliff,” said Gregory Daco, chief U.S. economist at Oxford Economics in New York. This is a decision of buying goods and spending your money. Reporting by Lucia Mutikani; Editing by John Stonestreet and Paul SimaoFILE PHOTO: Shoppers are seen outside a retail store as the phase one reopening of New York City continues during the outbreak of the coronavirus disease (COVID-19) in the Brooklyn borough of New York City, New York, U.S. June 9, 2020. The consumer market is where the consumer has the right and the power to make a decision of spending their money. Savings funded spending last month, pulling the saving rate down to a still-high 19% from 24.2% in May.

In Q1 anxiety rose for all index components, with the sharpest increase around job security (up 5.8 to a survey high 52.3). The Consumer Price Index (CPI) measures quarterly changes in the price of a 'basket' of goods and services which account for a high proportion of expenditure by the CPI population group (i.e. Graphic: Unemployment benefits and total personal income - The extra unemployment checks are worth about $75 billion per month and accounted for nearly 5% of personal income in June. Historically high savings could keep consumer spending supported while lawmakers and the Trump administration seek a deal on extending the enhanced jobless benefits. While higher food and energy goods and services prices lifted monthly inflation last month, the trend was muted. This puts spending on a higher growth trajectory heading into the July-September quarter.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 5.6% last month after a record 8.5% jump in May as … A third report on Friday from the Labor Department showed the smallest wage increase in five years in the second quarter. The core PCE index is the preferred inflation measure for the Federal Reserve’s 2% target. Stocks on Wall Street were mixed. Also known as personal consumption expenditures, these statistics are a popular way to gauge the economy's strength. The strength of the surveys is that it allows data users to relate the expenditures and income of consumers to the characteristics of those consumers. Even buying a packet of chips from a store is being a part of the consumer market as you participate in the buying a packet of chips buy paying a sum for the purchase. In the 12 months through June, the so-called core PCE price index rose 0.9% after increasing 1.0% in May. Robust consumer spending is critical to reviving the economy after it suffered its biggest blow since the Great Depression in the second quarter. The U.S. central bank on Wednesday kept interest rates near zero and pledged to continue pumping money into the economy. REUTERS/Shannon Stapleton

Consumer Spending in Australia decreased to 265949 AUD Million in the first quarter of 2020 from 269023 AUD Million in the fourth quarter of 2019. Consumer spending tanked at a historic 34.6%.

WASHINGTON (Reuters) - U.S. consumer spending increased for a second straight month in June, setting up consumption for a rebound in the third quarter, though the recovery could be limited by a resurgence in COVID-19 cases and the end of expanded unemployment benefits.

More detailed data on what people buy is released annually. By NAB Group ... 59.1) and the second (March 17-20 – 61.1). With the unemployment rate at 11.1% and COVID-19 slowing the labor market recovery, wage growth could slow further. In addition, tens of millions of unemployed Americans will at midnight on Friday lose $600 in additional weekly jobless benefits after the White House and Congress failed to reach an agreement to extend the supplement, which has allowed them to pay rent and buy food among other expenses.

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