When Sarah Harkness landed her first post-college job at a public relations firm in New York City, she was eager to get all the trappings of an adult life: a professional wardrobe, some adventures abroad, and her very own apartment. But when coronavirus hit, she realized all those expenses didn’t […]
Author: Amanda Glodowski
From Business as Usual to Unprecedented Circumstances: Five Things to Watch for in March’s Income Report
The Bureau of Economic Analysis will release its March personal income and spending report tomorrow, where both income and spending are expected to plummet. This will be the first dataset of its kind that will start to reflect Covid-19’s impact on consumer behavior. Here’s what to be on the lookout […]
Income and Spending Strong Leading Up to Coronavirus Outbreak
Spending rose in February, another sign that the U.S. had a solid economic foundation before coronavirus ripped through the nation. The numbers closely mirrored the January report closely, with consumer spending increasing a modest 0.2% for the second month in a row, while income also surged a consecutive 0.6%. The […]
As Subscription Economy Transforms Markets, Retailers Struggle to Get on Board
Each morning, Mary Kate Nolan brushes her teeth with her Quip toothbrush, shaves her legs with her Billie razor, swipes on some blush and mascara from her collection of Birchbox samples, puts on her rented jeans (one leg at a time), and Citi bikes to her office in Chelsea. With […]
Income and Spending Both Increase Ahead of Coronavirus
Incomes surged in January, a sign of momentum before Coronavirus shook the global economy. Personal income jumped 0.6% from last month, edging out expectations, and was the largest gain in 11 months. Spending grew less, by a seasonally adjusted 0.2%, slightly undercutting forecasts, while the personal savings rate rose […]