The Fed's Favorite Indicator Rises by Most in Eight Months
Where Are U.S. Consumers Spending Their Money?
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Consumer purchases climbed in January by the most in eight months, fueled by faster earnings growth that’s being accompanied by rising inflation.
The 0.5 percent advance followed a 0.1 percent gain the prior month, a Commerce Department report showed Friday. The January figure exceeded the 0.3 percent median forecast in a Bloomberg survey. Incomes also climbed 0.5 percent, more than projected.