US Consumer Spending Shows Regression
US consumer spending for the prior month has weakened as vehicle purchases has reduced. Purchases increased 0.1%. Incomes were up 0.2%. Price gauge tied to consumption lifted 0.2%. Prices ex- food and energy grew 0.1%, core prices increased 1.3%. These numbers are way lower comparing to the previous ones. Adjusted for inflation, purchases dropped 0.1%. Weak indices reflect the harm from weather disasters in Texas and Florida. But, next months’ figures are expected to rise. Wages and salaries didn’t show any significant changes. Saving rate remained at 3.6%. Real outlays for durable goods were down 1% and non-durable goods fell 0.2%.