Personal outlays and incomes in the US rose slightly, with potential slowdown in household spending.

From Investing.com: 2024-05-31 11:38:00

Important monthly data on personal outlays, incomes, and prices in the US for April has been released. Personal outlays increased by 0.2%, while incomes rose by 0.3%. The savings-to-income ratio remained steady at 3.6% for the second month in a row, showing a downward trend since August. A rebound in the tax burden is putting pressure on households, with personal taxes rising by 10% compared to April last year. The Core PCE Price Index rose by 0.2% month-on-month and 2.8% year-on-year, meeting analyst expectations. Analysts predict a potential slowdown in US household spending in the coming months, leading to a more cautious approach.



Read more at Investing.com: Personal Spending, Not Inflation, Is Currently the Main Risk for the US