Topic
consumer spending
Business US economy slows as GDP growth slips to 1.5%, consumers keep momentum alive
The US economy grew at an annual rate of 1.5% in Q2 2026, slowing from 2.1% in Q1 and missing expectations. Consumer spending accelerated to 3.2% but a surge in imports—up 11.5%—deducted 1.5 percentage points from growth. Inflation continued to ease, with the PCE index rising 3.7% year-on-year, still above the Fed's 2% target.
Manufacturing 46% of Indian smartphone buyers willing to stretch budgets despite price hikes: Counterpoint
A Counterpoint Research survey of 2,095 prospective buyers reveals that 46% of Indian consumers planning a smartphone purchase in the next six months are willing to stretch their budgets despite rising prices. The report highlights that rising manufacturing and component costs are driving price increases, with consumer behaviour varying by age and city tier.
Business UK VAT cut on theme parks and kids' meals takes effect for summer holidays
The UK government's temporary VAT cut on theme parks, zoos, museums and children's meals has come into force on June 25, reducing VAT from 20% to 5% until September 1. The measure, costing £300m, aims to help families during the school summer holidays, but critics including the Institute for Fiscal Studies estimate an average saving of just £10 per household.
Business US inflation climbs above 4% for first time in three years as consumer spending stays resilient
US inflation accelerated above 4% for the first time in three years, with the PCE price index rising 4.1% year-on-year in May. Consumer spending remained resilient, increasing 0.7% month-on-month, supported by larger tax refunds and a stock market rally, according to data from the Commerce Department and Reuters.
Business From Inflation to Mortgage Rates: Key Movements in the US Economy's Weekly Report Card
The US economy saw mixed signals this week: inflation accelerated to a three-year high, consumer spending slowed, but GDP growth beat expectations and layoffs remained low. Apple raised prices on Mac and iPad models due to AI-driven memory chip shortages. Mortgage rates ticked up slightly, while jobless claims fell below forecasts.
Business Food price surge inflates school holiday costs for families amid stalled government support
The cost of school holidays is rising for families on low incomes as food prices continue to climb, despite UK food inflation slowing. A new bill in Northern Ireland aims to restore holiday food payments for 90,000 children eligible for free school meals, after the previous scheme was axed in 2023.
E-Commerce & Marketplaces Rips Card-Pack App: Digital Packs for Physical Pokémon Cards Spark 6 Million Downloads
The Rips app, launched in October 2025, allows users to pay from $1 to $2,500 to open digital card packs for physical Pokémon, Basketball, or One Piece cards, with instant resale options. With over 6 million downloads, the platform features volatility settings and automatic sell-back after a week. The app is restricted to users aged 18 and older.
Business FY27 Kicks Off Strong: Double-Digit Sales Growth in Apparel, ACs, and Premium Goods, But Monsoon and Inflation Risks Loom
India’s new fiscal year has opened with robust double-digit sales growth in apparel and white goods, driven by a scorching summer and GST rate cuts. However, companies and analysts warn that an uneven monsoon and accelerating inflation could weigh on demand in coming months. A Bank of America report highlights El Nino risks to retail inflation.
Business US gas dips below $4 again, yet household budgets remain under pressure
The US national average gas price dipped below $4 per gallon for the first time since the early weeks of the Middle East conflict, according to AAA. However, household budgets remain strained as inflation hits a three-year high and supply chain disruptions persist, with experts warning that higher prices for goods will continue through 2026.
Business Inflation Starting to Take Toll on Indian Consumers, P&G India CEO Warns of Headwinds
Procter & Gamble India CEO V Kumar said inflation is making consumers more disciplined in spending, projecting short-term headwinds. The company faces a 50% spike in plastic costs due to the West Asia war, and global parent P&G warned of a $1 billion post-tax hit to fiscal 2027 profit. Delayed monsoons add to risks, but the company remains positive on India's medium-term growth.
Business What Do Americans Spend on Housing? WIRED Survey Reveals Affordability Crisis Deepens
WIRED's 2026 reader survey of over 200 Americans reveals a severe housing affordability crisis. Nearly half of renters and a quarter of homeowners exceed the 30% income threshold. Median monthly mortgage for new buyers is $2,152; median asking rent is $1,579. The data indicates significant consumer financial stress with implications for housing markets and consumer spending.
Business Why the US economy keeps defying the odds: corporate investment and energy resilience drive outperformance
The US economy continues to grow at a steady pace despite global shocks such as trade tariffs, immigration changes, and Middle East conflict. Corporate capital expenditure remains high at 13.9% of GDP, productivity has risen, and energy independence from fracking has reduced vulnerability to oil price spikes. Cultural attitudes toward risk-taking and structural differences with Europe further explain the divergence.
Business German Retailers Anticipate Modest World Cup Sales Boost
German retailers expect only a modest boost in sales from the World Cup, as the event is held outside Germany. A survey by HDE indicates that only a quarter of retailers are stocking World Cup-related products, with limited impact anticipated across sectors.