U.S. consumer spending beats forecasts in March; inflation soars

Summary by Ground News

U.S. inflation-adjusted consumer spending rose in March despite intense price pressures. The gain was driven by services, while merchandise buying dropped. The figures show that even as consumer prices continue to grow at the fastest rate in decades, demand is strong enough to outpace inflation.

3 months ago·Washington, United States

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Reuters

U.S. consumer spending beats forecasts in March; inflation soars

U.S. consumer spending increased more than expected in March amid strong demand for services, while monthly inflation surged by the most since 2005. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 1.1% last month.

3 months ago·United Kingdom

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IBTimes

U.S. Consumer Spending Accelerates; Wage Inflation Rising

U.S. consumer spending rose more than expected in March amid strong demand for services, while monthly inflation surged by the most in 16-1/2 years, giving the Federal Reserve ammunition to hike interest rates by a hefty 50 basis points next week. The case for an aggressive monetary policy stance from the U.S. central bank was also strengthened by other data on Friday showing compensation for American workers recording its largest increase in at…

3 months ago·United States

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RTÉ

US consumer spending beats forecasts as inflation soars

US consumer spending increased more than expected in March amid strong demand for services, while monthly inflation saw the biggest increase since 2005.

3 months ago·Ireland

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Bloomberg Quint

U.S. Inflation-Adjusted Consumer Spending Unexpectedly Rose in March

(Bloomberg) -- U.S. inflation-adjusted consumer spending rose in March despite intense price pressures, indicating households still have solid appetites and wherewithal for shopping.Continue Reading. Read more on Global Economics by BloombergQuint.

3 months ago

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The Globe & Mail

U.S. consumer spending tops forecasts in March amid strong demand; inflation surges

The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 1.1 per cent last month

3 months ago·Canada

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Bloomberg

U.S. consumer spending beats forecasts in March; inflation soars

U.S. inflation-adjusted consumer spending rose in March despite intense price pressures, indicating households still have solid appetites and wherewithal for shopping.

3 months ago·United States

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