New orders for U.S. manufactured capital goods rose less than expected in June amid weak demand for machinery and a range of other goods, suggesting that business spending will remain subdued for a while.
U.S. consumer spending recorded its biggest increase in more than six years in April and inflation rose steadily, more signs of an acceleration in economic growth that could persuade the Federal Reserve to raise interest rates again as early as June.
U.S. consumer spending regained momentum in January as households ramped up purchases of a variety of goods, in a hopeful sign that economic growth was picking up after slowing to a crawl at the end of 2015.
America's annual Black Friday shopping extravaganza was short on fireworks this year as U.S. retailers' discounts on electronics, clothing and other holiday gifts failed to draw big crowds to stores and shopping malls.
Best Buy Co Inc forecast a revenue decline for the crucial holiday quarter and reported lower-than-expected quarterly sales due to weak demand for mobile phones, tablets, repair services and warranties.