In an internal letter, the company said inflation and changes in consumer spending had forced it to shut its more than 700 stores.

© Frankie Alduino for The New York Times

The Personal Consumption Expenditures index climbed 2.4 percent from a year earlier, though the report’s details were more subdued than expected.

© Audra Melton for The New York Times

America’s economy is far outstripping its peers, but there are serious risks, including from the president-elect.

© Jacquelyn Martin/Associated Press

New data shows the challenges facing Chinese policymakers trying to stimulate an economy marked by falling prices, weak consumer spending and a housing market crash.