Consumer spending solidly up in December
Washington
CONSUMER spending in the United States rose solidly in December as households bought motor vehicles and a range of services amid rising wages, pointing to sustained domestic demand that could spur faster economic growth in early 2017.
There are also signs of inflation steadily firming. The strengthening economy, rising price pressures and a tightening labour market could allow the Federal Reserve to lift interest rates at least three times this year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’