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U.S. Consumer Spending Cools as Food, Fuel Costs Climb
+4
JaneWI
njcookies
mrgolf
Jen
8 posters
U.S. Consumer Spending Cools as Food, Fuel Costs Climb
U.S. Consumer Spending Cools as Food, Fuel Costs Climb
http://www.bloomberg.com/news/2011-02-28/consumer-spending-in-u-s-rose-less-than-forecast-in-january.html
Consumer spending cooled more than
forecast in January as rising food and fuel prices caused
Americans to cut back on post-holiday visits to malls and
restaurants.
Purchases rose 0.2 percent, the smallest gain since June,
as winter storms may have also discouraged shoppers, according
to figures from the Commerce Department today in Washington. A
report from Chicago-area purchasing managers showed businesses
expanded in February at the fastest pace in two decades.
http://www.bloomberg.com/news/2011-02-28/consumer-spending-in-u-s-rose-less-than-forecast-in-january.html
Consumer spending cooled more than
forecast in January as rising food and fuel prices caused
Americans to cut back on post-holiday visits to malls and
restaurants.
Purchases rose 0.2 percent, the smallest gain since June,
as winter storms may have also discouraged shoppers, according
to figures from the Commerce Department today in Washington. A
report from Chicago-area purchasing managers showed businesses
expanded in February at the fastest pace in two decades.
Jen- Admin
- Posts : 1684
Join date : 2011-02-12
Location : Ohio
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
Bernanke warns recent oil price surge could impede U.S. growth
Likely outcome would be temporary and modest rise in inflation, Fed chief tells Congress
http://www.msnbc.msn.com/id/41845694/ns/business-stocks_and_economy/
WASHINGTON — Federal Reserve Chairman Ben
Bernanke told Congress on Tuesday that a prolonged rise in oil prices
would pose a danger to the U.S. economy. But he said a more likely
outcome is a temporary and modest increase in consumer prices, not
runaway inflation.
Likely outcome would be temporary and modest rise in inflation, Fed chief tells Congress
http://www.msnbc.msn.com/id/41845694/ns/business-stocks_and_economy/
WASHINGTON — Federal Reserve Chairman Ben
Bernanke told Congress on Tuesday that a prolonged rise in oil prices
would pose a danger to the U.S. economy. But he said a more likely
outcome is a temporary and modest increase in consumer prices, not
runaway inflation.
Jen- Admin
- Posts : 1684
Join date : 2011-02-12
Location : Ohio
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
Stocks end day lower as Bernanke warns about oil
Fed boss tells congressional committee surge in prices could lead to weaker growth
http://www.msnbc.msn.com/id/41845280/ns/business-stocks_and_economy/
NEW YORK — Stocks ended lower Tuesday
after construction spending dropped to its lowest level in nearly a
decade and Federal Reserve Chairman Ben Bernanke said rising oil prices
could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on
anti-government protesters. Prices surged 13 percent last week with
unrest in the Middle East and North Africa.
Jen- Admin
- Posts : 1684
Join date : 2011-02-12
Location : Ohio
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
Jen wrote:
Stocks end day lower as Bernanke warns about oil
Fed boss tells congressional committee surge in prices could lead to weaker growth
http://www.msnbc.msn.com/id/41845280/ns/business-stocks_and_economy/
NEW YORK — Stocks ended lower Tuesday
after construction spending dropped to its lowest level in nearly a
decade and Federal Reserve Chairman Ben Bernanke said rising oil prices
could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on
anti-government protesters. Prices surged 13 percent last week with
unrest in the Middle East and North Africa.
Stocks ended lower Tuesday after construction spending dropped to its lowest level in nearly a decade and Federal Reserve Chairman Ben Bernanke said rising oil prices could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on anti-government protesters. Prices surged 13 percent last week with unrest in the Middle East and North Africa.
Major Market Indices
Bernanke, in testimony to the Senate Banking Committee, said a prolonged increase in crude prices could pose a risk to the recovery. But he predicted only a temporary increase in inflation, not runaway prices. The Fed chief also said he expected the economy to grow this year, but not at a pace fast enough to quickly lower the 9 percent unemployment rate.
Story: Bernanke warns recent oil price surge could impede U.S. growth
The Commerce Department reported that builders began work on fewer homes, offices and commercial projects in January. The annual rate was near its lowest level 10 years.
mrgolf- Monster Poster
- Posts : 4049
Join date : 2011-02-13
Location : Santa Rosa, California
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
I put gas in my car last wk at 3.10/gal, I'm afraid to see what it is this week. Good thing I don't use too much gas being unemployed.
njcookies- Elite Poster
- Posts : 590
Join date : 2011-02-13
Age : 75
Location : New Jersey
Job/hobbies : Cat Lady
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
I'm afraid it is going to be a lot higher than $3.10 per gallon. I can go about 1 month between fill ups.njcookies wrote:I put gas in my car last wk at 3.10/gal, I'm afraid to see what it is this week. Good thing I don't use too much gas being unemployed.
mrgolf- Monster Poster
- Posts : 4049
Join date : 2011-02-13
Location : Santa Rosa, California
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
mrgolf wrote:I'm afraid it is going to be a lot higher than $3.10 per gallon. I can go about 1 month between fill ups.njcookies wrote:I put gas in my car last wk at 3.10/gal, I'm afraid to see what it is this week. Good thing I don't use too much gas being unemployed.
Some stations are at $3.39 a gallon, but WI seems to be a bit higher than most places.
JaneWI- Monster Poster
- Posts : 2298
Join date : 2011-02-13
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
3.25 here today.
Shameful when you figure the gulf and a bunch of refineries are within 70 miles.
Shameful when you figure the gulf and a bunch of refineries are within 70 miles.
Guest- Guest
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
its been around 3.67 (87 octane) over here.
rubeNG- Valued Poster
- Posts : 30
Join date : 2011-02-14
Location : Los Angeles Area, CA
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
I think we will peak at $4.00
mrgolf- Monster Poster
- Posts : 4049
Join date : 2011-02-13
Location : Santa Rosa, California
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
It's $3.48 here and I heard on the news the other day that it could be $5.00 by summer.mrgolf wrote:I think we will peak at $4.00
Jen- Admin
- Posts : 1684
Join date : 2011-02-12
Location : Ohio
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
mrgolf wrote:Jen wrote:
Stocks end day lower as Bernanke warns about oil
Fed boss tells congressional committee surge in prices could lead to weaker growth
http://www.msnbc.msn.com/id/41845280/ns/business-stocks_and_economy/
NEW YORK — Stocks ended lower Tuesday
after construction spending dropped to its lowest level in nearly a
decade and Federal Reserve Chairman Ben Bernanke said rising oil prices
could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on
anti-government protesters. Prices surged 13 percent last week with
unrest in the Middle East and North Africa.
Stocks ended lower Tuesday after construction spending dropped to its lowest level in nearly a decade and Federal Reserve Chairman Ben Bernanke said rising oil prices could hurt the economy.
Oil prices rose $2.00 to $98.98 a barrel as Iran clamped down on anti-government protesters. Prices surged 13 percent last week with unrest in the Middle East and North Africa.
Major Market Indices
Bernanke, in testimony to the Senate Banking Committee, said a prolonged increase in crude prices could pose a risk to the recovery. But he predicted only a temporary increase in inflation, not runaway prices. The Fed chief also said he expected the economy to grow this year, but not at a pace fast enough to quickly lower the 9 percent unemployment rate.
Story: Bernanke warns recent oil price surge could impede U.S. growth
The Commerce Department reported that builders began work on fewer homes, offices and commercial projects in January. The annual rate was near its lowest level 10 years.
This is not sounding good at all.
Sunrise- Terrific Poster
- Posts : 1829
Join date : 2011-02-12
Location : Alaska
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
Should have been $5 or more long ago but Congress has subsidized the oil industry for decades. Big Oil knew there was a 'price point' it needed to maintain to prevent the alternative energy (electric cars, high-speed rail, wind, solar) from coming on line in a big way. They wanted *all* the profits to themselves. However the revolutions in the Middle East have been out of their control. But the corporations have never been much for letting a good disaster go to waste......so instead of hiking gas immediately to $5 & letting the chips fall where they may (& witness a public outcry for alternative energy) they're killing the American public with death by 1,000 cuts.....every day it's 5-7 cents more a gallon.Jen wrote:It's $3.48 here and I heard on the news the other day that it could be $5.00 by summer.mrgolf wrote:I think we will peak at $4.00
Phillymg- Super Poster
- Posts : 1435
Join date : 2011-02-13
Age : 65
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
https://www.youtube.com/watch?v=rhoDLqwjzpY
Jen- Admin
- Posts : 1684
Join date : 2011-02-12
Location : Ohio
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
Jen wrote:https://www.youtube.com/watch?v=rhoDLqwjzpY
Talk about hitting the nail on the head ......
UPCHITCREEK- Super Poster
- Posts : 1423
Join date : 2011-02-14
Age : 64
Location : Florida
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
$3.59 is the lowest price here in Santa Rosa today
mrgolf- Monster Poster
- Posts : 4049
Join date : 2011-02-13
Location : Santa Rosa, California
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
Jen wrote:https://www.youtube.com/watch?v=rhoDLqwjzpY
Good video. Thank you for sharing!
JaneWI- Monster Poster
- Posts : 2298
Join date : 2011-02-13
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
mrgolf wrote:$3.59 is the lowest price here in Santa Rosa today
3.71 lowest here today.
rubeNG- Valued Poster
- Posts : 30
Join date : 2011-02-14
Location : Los Angeles Area, CA
Re: U.S. Consumer Spending Cools as Food, Fuel Costs Climb
According to Gas Buddy, some of the gas stations are now charging $3.44 and $3.45. I filled up last Thursday at $3.19.
JaneWI- Monster Poster
- Posts : 2298
Join date : 2011-02-13
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