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U.s. Consumer Spending Probably Slowed

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U.S. consumer spending probably slowed in August, reflecting growing pessimism among households that may further restrain the biggest part of the economy, economists said reports this week will show.

Purchases rose 0.2 percent after July’s 0.8 percent gain, according to the median estimate of 63 economists in a Bloomberg News survey before the Commerce Department’s report Sept. 30. Consumer confidence held close to a more than two-year low, home sales dropped for a fourth month and factory orders for big- ticket items declined, other reports this week may show.

Scarce employment prospects, tepid wage gains and a stock market rout have pummeled consumer sentiment, which threatens to slow sales for companies like Ford Motor Co. (F) The slowing economy prompted Federal Reserve policy makers last week to introduce another round of unconventional stimulus to ensure the recovery is sustained.

At least they've avoided the unexpected word.....

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Can't they wait for it to happen before reporting it as news.

Bloomberg really f*cks me off doing this all the time.

Classic headline is " Unemployment seen rising" ....using a past tense of a verb to describe something that hasn't even happened!

and another thing they do which the beeb are guilty of is making a slowdown in the rate of growth, sound like an actual net loss.

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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