According to the Financial Times, U.S. credit card defaults increased to their highest level since the start of the 2008 Great Recession, which is a telling sign that lower-income Americans are struggling after dealing with years of high inflation.
Read More Credit Card Defaults At Highest Level Since Great Recession In 2008
With CVS, Big Lots, and other businesses closing several locations across the U.S. this year, the number of store closures is up by 69%, increasing tremendously in 2024.
Read More Retail, Chain Store Closures Have Surged 69% In 2024: Which Were Affected?
New orders for key U.S.-manufactured capital goods surged in November, offering more signs that the economy is on solid footing as the year ends.
Read More US core capital goods orders rebound as economy eyes strong end to 2024
The retail store, known for supplying customers with everything they need to plan the perfect party, will be closing all of its stores after running out of money to stay in operation, according to CNN.
Read More Party City Shutters Doors After 40 Years Of Business
Retailers including Target and Walmart are stocking shelves with more toys and gifts that cost less than $10 this holiday season, a strategy aimed at attracting cash-strapped shoppers.
Read More Seeing low-income consumers squeezed, retailers target $10 and under gifts
The Fed cut interest rates by 25 basis points to 4.25%-4.5% and continues reducing its debt holdings.
Read More Fed Cuts Rates To 4.25%-4.5% Amid Inflation Fight, Housing Costs Remain High