Friday News📰!

Income and Spending is up in the U.S. !

 Good for the Holiday Season! ☃️🎄☃️🎄☃️🎄

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“Consumers, benefiting from robust income gains, spent more money in October, driving economic growth as other sectors such as home building and exports show signs of softness. Meanwhile, inflation was subdued, which could take pressure off the U.S. Federal Reserve to continue increasing short-term interest rates in 2019. Consumer spending marked its biggest gain in October in seven months, rising 0.6% from September, and incomes were up 0.5%, the largest monthly increase since January, according to the U.S. Department of Commerce. Further, the personal consumption expenditure price index excluding food and energy—which is watched closely by the Fed—rose 1.8% in October from a year ago, below the central bank’s 2.0% target and down from 1.9% the prior month.”

Harriet Torry and Eric Morath

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