Consumer spending during Q1 to shrink for first time since pandemic

Quick Summary:

“Stockpiling ahead of potential tariff implementation on a wide range of consumer goods could lead to a pullback in goods spending later this year,” the Conference Board said.

Fed officials on March 19 downgraded their forecast for economic growth in 2025 to 1.7% from 2.1% in December, and several private sector economists have followed suit.

The data sharpened concerns that the economy is sinking into a period of weak growth and rising inflation.

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Article Details

Author / Journalist: Jim Tyson

Category: EconomyBusiness

Markets: United StatesCanadaChinaMexicoPeru

Topics: Growth Goods Shulyatyeva Tariffs Spending Price Consumer Conference Year Inflation 2025

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-01 @ 11:22:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 510 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 27517236

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