US personal spending increased 0.1% in February

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The latest US Commerce Department data release showed personal spending growth slowed in February as expected as consumers saved their income.

    Personal spending matched estimated of 0.1%. Personal income rose 0.2%, beating the estimated figure of 0.1%. The saving rate thus jumped to one-year high.

    Meanwhile, the core personal consumption expenditure m/m dropped 0.1%, leading to a annualized figure of 0.1%, which was slightly less than estimated figure of 0.2%. This inflation gauge is preferred by Federal Reserve policy makers and has not met their 2 percent goal since April 2012.

    It remains to be seen if the jump in the savings rate to a one-year high translated into higher consumption in March.
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