consumer spending

People in the U.S. are predicted to spend a record $13 billion this Halloween. Nearly a billion of that is on costumes for pets.

The economy contracted in the first quarter of 2020 as the coronavirus began to take its toll and spending dived. It's the first quarterly drop in six years and a likely precursor to a deep recession.

Retailers predict rising prices if President Trump goes through with his threat to add new tariffs to Chinese imports. Meanwhile, the White House announced a deal to boost beef exports.