Home → News

U.S. consumer spending slows; inflation pushes higher

March 01, 20170 CommentsBloggies by 888LIFE980
U.S. consumer spending rose less than expected in January as the largest monthly increase in inflation in four years eroded households’ purchasing power, pointing to moderate economic growth in the first quarter. The Commerce Department said on Wednesday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2 percent after an unrevised 0.5 percent rise in December.

Subscribe to Newsletter

Get weekly updates on mortgage rates, finance, lending and real estate.