US: Diminished purchasing power will weigh on real spending – Wells Fargo By MSalordFX ConsumerSpending UnitedStates Banks
ells Fargo commenting personal income and spending data released on Thursday. They noted that “even with inflation at a 40-year high, the 0.4% drop in real spending in February might be overstating the burden and be more of a reflection of an upward revision that made January one of the best months on record for real spending.”“The 0.4% drop in real spending in February comes on the heels of an already strong January gain that was revised much higher. In fact the 2.
“We expect households to save less in the near term to offset some of the hit to purchasing power from rising inflation. If they don't, spending could falter more than we presently forecast.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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