US spending stronger than expected for February
Personal spending came out at 0.8% rising from the previous month’s 0.2% and surpassing expectations of 0.6%. Taking into account inflation the adjusted figure gives us real consumption – which also registered stronger growth. The actual figure, for real consumption, came out at 0.5% higher than the previous 0.2% (revised from 0.0%).
The stronger personal spending must be seen in the context of the slower Personal Income growth that increased only by 0.2% compared to the previous 0.3% and coming short of the expected 0.4%.
A rise in US consumer’s personal spending bodes well for the US’ economic outlook.
Good Day
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