Personal spending cools as inflation reaches Fed's goal
Washington
US consumer purchases rose less than forecast in February even as wage growth improved, according to government data that also showed inflation reached the Federal Reserve's goal for the first time in almost five years.
The 0.1 per cent advance in consumption followed a 0.2 per c nt gain the prior month, the Commerce Department said on Friday. A price gauge based on consumers' spending habits, the Fed's preferred inflation measure, climbed 2.1 per cent from a year earlier, the most since March 2012.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China builder Vanke tells investors it readied money to pay bond
Eurozone at turning point needs consumers to get out and spend
Chinese tariffs could leave cognac makers with too much brandy
Xi begins Europe tour in Paris as Macron seeks to reset ties
South Korea’s probe alleges 211.2 billion won of illegal short trades
Suzhou Industrial Park: The crown jewel of China-Singapore relations celebrates its 30th year