mixed-signals
Drop in U.S. consumer spending clouds Fed rate hike outlook
October 1, 2016 by publisher · Leave a Comment
U.S. consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, fell 0.1 percent last month after accounting for inflation. “Consumers took a breather in August,” said Chris Christopher of IHS Global Insight
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Drop in U.S. consumer spending clouds Fed rate hike outlook