Quotes from Capital Economics:
- Following the 0.9% m/m leap in March, we suspect that personal spending did not rise at all in April in nominal terms (13.30 GMT). April’s 0.1% m/m rise in retail sales suggests that total spending on goods hardly rose last month.
- Moreover, the fall in utilities output implies that spending on utilities fell by at least 8.0% m/m, as it moved back to a more normal level after being boosted by the unusually cold weather. A fall in spending on services probably offset the small rise in spending on goods to leave overall spending flat.
- The good news is that, thanks to the rises in employment and average hourly earnings, personal income (13.30 GMT) probably increased by around 0.3% m/m in April.
Published: 2014-05-29 19:49:00 UTC+00
Us Personal Spending Probably Did Not rise at All in April in Nominal Terms
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