Market Updates
Sharp Fall in U.S. Consumer Spending Growth On Higher Rent and Oil
Brian Turner
31 Mar, 2022
New York City
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Consumer spending growth slowed in February after the rising gasoline prices and surging rent forced consumers to cut other expenses. Spending rose 0.2% in February and January spending increase was revised higher to 2.7% from 2.1%. The personal consumption expenditure index increased 0.6% in February, an increase of 6.4% from a year ago, after rising at 0.5% in January.
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