Swiss Economicblogs.org
Just-released figures lead us to revise our forecasts for US spending and inflation.Real consumer spending increased by just 0.1% month-on-month in May. However, Q1 and April consumption figures were revised higher. The overall result was that between Q1 and April-May, US personal consumption grew by a strong 3.2% annualised. The strong bounce back in consumption growth expected has been confirmed, so that our forecast of 2.7% growth in consumer spending for Q2 overall now looks too low. We...
Read More »U.S. consumer spending picks up, but inflation is still soft
