People aren't waiting for governors or mayors to make the decision for them. Real-time data show they cut back on spending when they're worried about being infected with the coronavirus.
While retail sales bounced back in May after a deep drop in March and April, the wealthiest Americans are not spending as freely as they did before the pandemic. And that could limit the recovery.
The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.
The Trump administration pushed back hard against warnings of an economic slowdown. But the president is also calling on the Federal Reserve to cut interest rates again to help boost growth.
The Commerce Department says the U.S. economy picked up steam in the first three months of the year. GDP grew at an annual rate of 3.2% in the first quarter, up from 2.2% at the end of 2018,
What started off as a strong holiday shopping season ended with a whimper, as December retail sales posted the sharpest drop in nine years. That could mean GDP growth will miss the president's target.
Nearly 3 out of 10 online shoppers have taken the plunge to buy an item that costs $1,000 or more. Men are twice as likely as women to buy a big ticket item online, according to a new NPR/Marist poll.