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U.S. consumer spending rose moderately in February, and while inflation cooled, it remained high enough to possibly allow the Federal Reserve to raise interest rates one more time this year.
While the pace of spending eased, economists boosted their overall growth estimates for the first three months of 2023 to as high as a 3.25pc annualised rate.
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U.S. consumer spending rose moderately in February, and while inflation cooled, it remained high enough to possibly allow the Federal Reserve to raise interest rates one more time this year.
(Adds details, analyst comments; updates markets) * Consumer confidence index increases to 104.2 in March * Labor market differential falls to 38.8 from 40.7 ... | 12:16pm
U.S. consumer confidence unexpectedly increased in March, but Americans are becoming a bit anxious about the labor market and expect inflation to remain elevated over the next year.