US Consumer Spending and Inflation Rise in April
TL;DR Summary
US consumer spending rose by 0.8% in April, exceeding expectations and boosting the economy's growth prospects for Q2. Inflation also picked up, increasing the likelihood of the Federal Reserve raising interest rates again next month. The growth picture was further brightened by a surprise rebound in orders of manufactured non-defense capital goods excluding aircraft, suggesting that the economy was experiencing a spring revival after hitting a speed bump in Q1.
Topics:business#economic-growth#economy#federal-reserve#inflation#interest-rates#us-consumer-spending
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