Discounts doing little to lift Americans' spirits and spending
Washington
AMERICANS experienced lower costs in June for some services as well as cheaper merchandise that limited receipts at retailers and showed a weaker trajectory for consumer spending entering the third quarter.
While economists projected a slight increase, consumer prices were little changed in June and held back by cheaper home furnishings, cars and clothing. Households also enjoyed modestly priced airfare and hotel stays at the start of the summer, Labour Department data showed on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife customers push for legal action