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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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US Consumer Spending Surges, Consumer Prices Crash Following Inflation


May, 02 2017
watermark Economic news

American consumer spending grew at a steady rate last month following an inflation surge, enabling the nation’s economy to revert from yet another winter breakdown. However, consumer prices dropped and investors took it as a sign of intrinsic weakness, which could hamper the Fed’s possible move towards an interest rate hike anytime soon. On the other hand, personal consumption rates surged by 0.3% following two months’ worth of consecutive drops in value according to the US Commerce Department.

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