US personal spending rose 0.5% in January; highest in 8 months

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Consumer spending in January rose by most in eight months, a commerce department data released today showed.

    Personal spending rose 0.5%, bettering the estimated rise of 0.3% following December figure of 0.0%. Personal income also printed at 0.5%; well above the estimated rise of 0.4% following a 0.3% rise in December.

    The Federal Reserve’s preferred measure of inflation, core personal consumption expenditure, rose by the most since October 2014. The figure printed at 0.3% m/m and 1.7% y/y; both printing higher than estimates.

    The data shows labor market strength and energy-led drop inflation is boding well for American consumer.
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