Grab announced today that its financial unit, which previously focused mainly on services for entrepreneurs and small businesses, is launching a slew of consumer products, including micro-investments, loans, health insurance and a pay-later program. Based in Singapore, Grab began in 2012 as a ride-hailing company before expanding into on-demand deliveries and other services. In January…
U.S. consumer confidence fell sharply as expectations about economic conditions plummeted in July. The Conference Board’s Consumer Confidence Index fell to 92.6 from 98.3 in June. Wall Street economists had forecast a milder decline to 95.7, according to Econoday. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions…
Consumer sentiment unexpectedly declined in the first half of July as state and local governments retreated from reopening plans and infections surged in many areas across the country. The University of Michigan’s Index of Consumer Sentiment slumped to 73.2 in July’s preliminary reading from 78 at the end of June. Economists had forecast a slight…
U.S. household spending lurched upward in May as the economy reopened. Consumer spending rose 8.2 percent compared with April, the sharpest increase in Commerce Department data that stretches back six decades. That was actually below expectations, however. Economists surveyed by Econoday had forecast an 8.6 percent gain., April’s change in consumer spending was revised up…
April’s consumer spending data shows coronavirus decimated the U.S. economy. It’s unlikely to be a one-off dip as the consequences of shut-downs continue to creep into the market. The government’s stimulus has done very little to spur on spending. Consumer spending declined a whopping 16.4% in April as coronavirus lockdowns shut down vast swaths of…
Consumer sentiment data shows people are still worried about the future of the U.S. economy. For the government’s spending to be worthwhile, consumer spending needs to return. The stock market will be turning to the return of consumer spending as states start to reopen. As the stock market pines for U.S. states to reopen their…
Groceries, gaming and booze emerged as top consumer spending categories. Investors should consider stocks in those spaces on the next market pullback. WMT, SAM and TTWO all look poised to perform through the coronavirus pandemic and beyond. A few weeks into America’s battle with coronavirus, consumer spending is unsurprisingly lower. But the drop in purchases…
Consumer Choice Center, a global consumer advocacy group, is launching a campaign to defund the World Health Organization (WHO) and is praising President Donald Trump for his remarks at Tuesday’s coronavirus press briefing when he said he would be looking into the massive funding the United States gives to WHO annually. Trump at the press…
The Conference Board’s gauge of U.S. consumer confidence plunged from 132.6 to 120 in March, while economists expected a 110 number. Confidence is likely to decline further in the coming months. It will probably take a long time before consumers start spending like before the crisis. The Conference Board said Tuesday its consumer confidence index…
California’s much-debated privacy law officially takes effect today, a year and a half after it was passed and signed — but it’ll be six more months before you see the hammer drop on any scofflaw tech companies that sell your personal data without your permission. The California Consumer Privacy Act, or CCPA, is a state-level…
