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“It shows the psychological mind frame of consumers,” said Mickey Chadha, vice president of corporate finance at Moody’s Investors Services, referring to holiday spending data. This year, dollar sales growth for the holidays in the United States is forecast to slow to 3.3% from 6% last year. It means the spending growth it reported was “driven by net-new demand, not simply higher prices,” Adobe said. The experts CNN spoke to were all in agreement: Holiday spending data — no matter how good or bad — doesn’t represent the state of the entire US economy. A report she coauthored with Chadha predicts holiday sales will grow “a fairly modest 1% to 3%” this year.
Persons: , Mickey Chadha, Aditya Bhave, David Paul Morris, That’s, Tamara Charm, Charm, ” Adobe, Chedly Louis, Chadha, Michael Zdinak, he’s, Bhave, that’s Organizations: New, New York CNN, Moody’s Investors Services, Adobe Analytics, Adobe, P Global Market Intelligence, Bank of America, Bloomberg, Getty, Consumer, Consumers, McKinsey, CNN, Moody’s Investors Locations: New York, United States, That’s
Adobe co-founder Jon Warnock is dead at 82
  + stars: | 2023-08-21 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —John Warnock, co-founder of Adobe, has died aged 82, the software company announced on Sunday. Warnock helped start the revolutionary company in 1982 with the late Charles Geschke, and transformed Adobe into a software powerhouse that became the backbone of the internet. “John’s brilliance and technology innovations changed the world,” Adobe CEO Shantanu Narayen said in a letter sent to employees. “I had an amazing teacher in high school who, essentially, completely turned me around,” Warnock said. “He was really good at getting you to love mathematics, and that’s when I got into it.”A cause of death wasn’t revealed.
Persons: New York CNN — John Warnock, Warnock, Charles Geschke, , Shantanu Narayen, ” Warnock, Geschke, ” Narayen, Warnock’s, Barack Obama, , wasn’t Organizations: New, New York CNN, Adobe, of Technology, Innovation, Marconi, University of Utah Locations: New York, Salt Lake City
What goes up… is starting to come down
  + stars: | 2022-12-10 | by ( Christine Romans | ) edition.cnn.com   time to read: +2 min
Gas prices are back to last year’s levels, after spiking to a record high of just over $5 a gallon this summer. “Falling prices in categories such as toys and electronics accelerated demand in November,” Adobe reported, noting that computers and electronics saw the biggest year-over-year price cuts since 2014. After hitting a record high this summer, chicken prices have dropped sharply. The Federal Reserve’s preferred inflation gauge, the PCE Price Index, rose 6% in October versus a year ago and notched the smallest monthly gain in more than a year. The final Consumer Price Index report of the year comes out on Tuesday, and the Producer Price Index also showed signs of cooling, at 7.4%, down from an 8.1% annual rate in October.
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