US Consumer Spending Recovers
US Consumer Spending Recovers * Consumer spending increased by 2.4 percent in January. * While personal income increased by 10 percent; Savings rate followed with 20.5 percent. * Core personal consumption expenditures index increased by 0.3 percent and 1.5 percent annually. US consumer spending showed the biggest increase it has experienced in seven months in January, due to pandemic cash subsidies by the government to low-income households and the fall of new COVID-19 infections. Price pressures have been silenced with the strong recovery in consumer spending as reported by the Ministry of Commerce on Friday (today). There are some concerns that...
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