U.S. third-quarter growth unrevised; consumer spending strong

[NewsFeeder]

U.S. third-quarter growth unrevised; consumer spending strong

U.S. economic growth nudged up in the third quarter, the government confirmed on Friday, and there are signs the economy more or less maintained the moderate pace of expansion as the year ended, supported by a strong labor market. Despite the unrevised reading, which was in line with economists' expectations, consumer spending was stronger than previously reported. There were also upgrades to business spending on nonresidential structures such as power infrastructure, which limited the drop in overall business investment.

https://finance.yahoo.com/news/u-third-quarter-growth-unrevised-140341996.html?.tsrc=rss

 

[Bullitt]

What a difference a shutdown makes.

Now analysts are saying people won't go back to their normal spending habits. Some of those reasons make sense, but I wonder how many Americans finally realized that concerts and sporting events are really not a good deal, even before you pay for parking and a beer.

Not surprisingly, the areas where respondents said they would cut back the most involve crowds, with nearly half of the survey’s respondents expressing plans to cut back on tickets for movies, sporting events, concerts, and theaters. Nearly as many people said they’d cut bar and restaurant visits, with millennials more likely than older adults (41% versus 35%) to do so.

Ted Rossman, an analyst at CreditCards.com, said a significant number of Americans say they plan to stay away from stadiums, restaurants, and other places on their own accord. “Perhaps that’s because they’re struggling financially, they learned to live without this activity during the quarantine, or they worry it won’t be safe even after restrictions are lifted,” Rossman says.

https://www.barrons.com/articles/co...ar-it-seems-theyre-still-skittish-51594237522