US consumer spending posts solid rise
US consumer spending rose a solid 0.4 percent in July, the sixth straight month of healthy gains. At the same time, a key gauge of inflation saw its sharpest annual gain in six years, likely keeping the Federal Reserve to continue raising interest rates.
The July spending gain, fueled by strong job growth and tax cuts, followed a similar 0.4 percent rise in June, the government said yesterday. Inflation, as measured by a barometer closely watched by the Fed, rose 2.3 percent for the 12 months that ended in July, the fastest year-over-year rise since 2012.
Though the inflation figure exceeded the Fed鈥檚 2 percent target, its officials have said they鈥檙e willing to tolerate slightly higher inflation temporarily in light of a six-year period when it fell short of the Fed鈥檚 2 percent goal. They are widely expected to keep gradually raising their benchmark rate, thereby leading to slightly higher rates on many consumer and business loans.
Andrew Hunter, US economist at Capital Economics, predicted the Fed will feel the need to raise rates once a quarter into next year.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.