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BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | November 27, 1999
U.S. personal incomes rose at their fastest rate in more than five years, and consumer spending accelerated, setting the stage for a fine holiday shopping season and, possibly, for yet another Federal Reserve Board interest-rate increase.Incomes rose 1.3 percent in October to a seasonally adjusted annual rate of $7.941 trillion after holding steady in September, the largest rise since a like-sized increase in April 1994, the Commerce Department announced yesterday.Last month's growth derived some of its strength from emergency subsidies to farmers, and still more from bonuses paid to unionized auto and aerospace workers as part of contract settlements.
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BUSINESS
By Natalie Sherman and The Baltimore Sun | September 13, 2014
Baltimore may have abandoned its "City that Reads" slogan too soon. Federal consumer spending data released this week by the Bureau of Labor Statistics shows that Baltimore-area residents spent an average of $154 annually on books, newspapers, magazines and other pleasure reading - about 45 percent more than the $106 national average. That's just a tiny fraction of area expenditures, but it's consistent with the profile of the wealthy, middle-aged average consumer revealed in the BLS data.
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BUSINESS
By Natalie Sherman and The Baltimore Sun | September 13, 2014
Baltimore may have abandoned its "City that Reads" slogan too soon. Federal consumer spending data released this week by the Bureau of Labor Statistics shows that Baltimore-area residents spent an average of $154 annually on books, newspapers, magazines and other pleasure reading - about 45 percent more than the $106 national average. That's just a tiny fraction of area expenditures, but it's consistent with the profile of the wealthy, middle-aged average consumer revealed in the BLS data.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 8, 2014
Maryland might be a relatively pricey place to live, but the average resident can afford it - and then some. That's what a first-ever breakdown of consumer spending by state suggests. Per-person spending on goods and services for Maryland households is among the highest in the country but eats up a smaller share of personal income than in nearly any other state, according to a Baltimore Sun analysis of federal data. On average, Marylanders spent three-quarters of the money flowing in during 2012 on housing, gas, food and other consumer expenses, U.S. Bureau of Economic Analysis estimates show.
BUSINESS
March 30, 2010
Consumers spent modestly last month, a sign that the economic recovery is proceeding at a decent - but not spectacular - pace. The Commerce Department reported Monday that consumers boosted their spending by 0.3 percent in February. That was a tad slower than the 0.4 percent increase registered in January and marked the smallest increase since September. Still, the increase in spending was considered a respectable showing, especially given the snowstorms that slammed the East Coast and kept some people away from the malls.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 8, 2014
Maryland might be a relatively pricey place to live, but the average resident can afford it - and then some. That's what a first-ever breakdown of consumer spending by state suggests. Per-person spending on goods and services for Maryland households is among the highest in the country but eats up a smaller share of personal income than in nearly any other state, according to a Baltimore Sun analysis of federal data. On average, Marylanders spent three-quarters of the money flowing in during 2012 on housing, gas, food and other consumer expenses, U.S. Bureau of Economic Analysis estimates show.
BUSINESS
By New York Times News Service | January 9, 1995
Billy Belford, a nurse's aide in Portland, Ore., has big plans for 1995. Feeling "pretty secure" about his job, Belford, 22, is ready to spend some money."
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | November 18, 1992
The Alex. Brown & Sons annual Consumer Growth Stock Seminar hardly seems a hotbed of liberal Democrats, but two-thirds of the institutional investors attending this year's conference think President-elect Bill Clinton will help stimulate consumer spending next year.That result came as part of a survey released yesterday by Alex. Brown, which asked nearly 200 investment professionals who took part in the two-day annual conference about their outlook for the consumer economy.The informal survey found broad optimism among investors about prospects for the holiday shopping season and next year's consumer spending.
BUSINESS
By New York Times News Service | December 24, 1994
WASHINGTON -- American consumers are on a late-year spending binge that may produce headaches in 1995, according to economic reports released yesterday.Despite a slight drop in personal income last month, consumer spending climbed briskly again in November, rising six-tenths of 1 percent and embracing a wide variety of goods and services, the Commerce Department reported.Indeed, it is possible, economists say, that overextended householders could cause the economy to slow more than policy-makers at the Federal Reserve desire and stir fears of recession.
BUSINESS
By BLOOMBERG NEWS | March 11, 2003
WASHINGTON - Economists scaled back forecasts of economic growth for a second-straight month as expectations waned for a rebound in consumer spending and inventory building, the latest Blue Chip Economic Indicators survey found yesterday. The economy will probably expand 2.6 percent this year, down from the forecast of 2.7 percent that the survey found last month, according to the consensus of 54 economists. Gross domestic product grew 2.4 percent in 2002. The outlook "continued to deteriorate over the past month as surging energy prices, the likelihood of an imminent U.S. war with Iraq and severe winter weather caused many panel members to trim estimates of GDP in the first half of the year," this month's report said.
NEWS
Tim Wheeler | February 11, 2014
Lt. Gov. Anthony G. Brown will stand in for Gov. Martin O'Malley in making the administration's case to a House committee Tuesday for raising Maryland's minimum wage. O'Malley had been scheduled to testify before the House Economic Matters Committee , in one of his last appearances before the General Assembly.  But he will instead attend the funeral of Baltimore construction magnate and philanthropist Willard Hackerman , who died Monday at age 95. The House panel will hear from a bevy of supporters and opponents of increasing the state's lowest hourly pay rate in stages to $10.10 an hour by 2016.
NEWS
By Lorraine Mirabella, The Baltimore Sun | January 3, 2014
The economy is likely to continue dragging in a slow recovery this year, the president of the Federal Reserve Bank of Richmond told a Maryland bankers group Friday. The economy will grow an estimated 2 percent to 2.25 percent, about the same as since the end of the recession, said Jeffrey M. Lacker, whose Federal Reserve district includes Baltimore. Last year ended on a positive note, with improvements in measures such as consumer spending and gross domestic product, the value of the nation's goods and services, he said.
BUSINESS
Lorraine Mirabella | October 15, 2013
 Most consumers will spend the same as or more than last year on holiday shopping, the NPD Group Inc. reported late Tuesday. The group's annual holiday spending survey showed that nearly 80 percent of shoppers will spend about the same or more compared to the 2012 holiday season. About a fifth of those polled said they plan to spend less this year. “Consumers are feeling better about the economy compared to last year and they plan to take advantage of sales during key periods,” said Marshal Cohen, NPD's chief industry analyst.
BUSINESS
Lorraine Mirabella | July 24, 2013
Consumers plan to spend an average of several hundred dollars to upward of $600 getting kids ready for school, and plenty aren't waiting until August, the busiest back-to-school spending period. The National Retail Federation expects families with school-age children to spend an average of $635 on clothing, shoes, supplies and electronics, down from $689 last year, or $26.7 billion total.    Meanwhile, the International Council of Shopping Centers and Goldman Sachs place the average estimate per household much lower, at $285, and said a third of the shoppers polled in a recent survey have started shopping already.
NEWS
By Robert B. Reich | June 5, 2013
Economic forecasters exist to make astrologers look good. But the recent jubilance is enough to make even weather forecasters blush. "The economy is going gangbusters! Just look at consumer spending!" "Look at home prices! Look at the bull market!" Please. I can understand the jubilation in the narrow sense that we've been down so long, everything looks up. Plus, economists who are paid by Wall Street or corporations tend to cheerlead because they believe that if consumers and businesses think the future will be great, they'll buy and invest more -- thereby creating a self-fulfilling prophecy.
BUSINESS
By Jamie Smith Hopkins and Lorraine Mirabella, The Baltimore Sun | May 17, 2013
Maryland employers slashed 6,200 jobs in April, cutting short a string of gains, the U.S. Department of Labor said Friday, as the state began feeling the pinch of federal budget sequestration and cutbacks in consumer spending. But the government's separate survey of households showed that Maryland's unemployment rate dropped to 6.5 percent in April from 6.6 percent a month earlier. The surveys of jobs and residents don't always move together, in part because Marylanders commuting across state lines or starting businesses don't affect the count of jobs.
BUSINESS
By New York Times News Service | December 25, 2008
Tumbling gasoline prices gave consumers more purchasing power last month, which led to a rise in real consumer spending even as personal income slips and Americans worry about their jobs in a rapidly weakening economy. The Commerce Department reported yesterday that consumer spending, when adjusted for inflation, rose 0.6 percent in November, its largest gain in two years. The increase followed a 0.5 percent decline in October. And while the unadjusted rate of consumer spending declined 0.6 percent in November, on the heels of a 1 percent drop in October, economists suggested that the relative increase in spending was a rare piece of good news for the faltering economy.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 13, 2013
Customers lined up outside Rheb's Candy early Monday, even before owner Wynn Harger opened the doors of the Southwest Baltimore shop his family has run for three generations. People, mostly men, crammed into the tiny, cottage-like store for much of the morning for one purpose - securing the handmade chocolates for Valentine's Day. "It's what my wife wants," said Dennis Eder, who traveled from Dundalk to Rheb's on Wilkens Avenue to purchase a two-pound box of assorted chocolates for his wife, Isabel.
BUSINESS
Jay Hancock | January 30, 2012
This shouldn't surprise you. The holiday shopping season was not gangbusters after all. With 13 million unemployed Americans and millions more working part-time or otherwise underemployed, the country has not returned to the mall in full force. It's not 2006 again, and it's certainly not 1999. The economic rebuilding from the 2008 financial crash is far from over. Consumers focused as much on saving in December as on spending, a Commerce Department report released Monday showed.
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