US Consumer Spending and Inflation Rise in April
TL;DR
US consumer spending rose by 0.8% in April, exceeding expectations and boosting the economy's growth prospects for Q2. Inflation also picked up, increasing the likelihood of the Federal Reserve raising interest rates again next month. The growth picture was further brightened by a surprise rebound in orders of manufactured non-defense capital goods excluding aircraft, suggesting that the economy was experiencing a spring revival after hitting a speed bump in Q1.
Topics:businesseconomy#economic-growth#economy#federal-reserve#inflation#interest-rates#us-consumer-spending
- US consumer spending surges in April; inflation heats up Yahoo Canada Finance
- Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed CNBC
- Personal Income increased 0.4% in April; Spending increased 0.8% Calculated Risk
- Breakevens say US inflation scare over, but Fed won't buy it ZAWYA
- U.S. Consumer Spending Jumped in April and Inflation Accelerated The Wall Street Journal
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