US: Personal income and expenditure slow down |
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Personal income rose a stronger than expected 0.5% M/M in February following an increase of 0.3% M/M in January. On an annual basis, income growth however slowed further down from 4.9% Y/Y in January to 4.6% Y/Y in February. Excluding the outliers, income growth is now at its slowest pace since 2003. Personal expenditure on the other hand rose a tepid 0.1% M/M in February following a stronger 0.4% M/M rise in January. The weakening in labour market conditions will weigh on both personal income Read More...
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