Consumer Spending in U.S. Stalls in March
- Fed’s preferred inflation gauge slows to below 2% target
- Nominal figures dragged down by falling prices in month
Pond, Cabana on U.S. Economic Data and the Fed
This article is for subscribers only.
U.S. consumer spending stalled in March while inflation slowed to below the Federal Reserve’s target, showing the biggest part of the economy might take more time to gain momentum after a tepid start to the year.
Purchases were little changed in both March and February from their prior months, Commerce Department figures showed Monday. The median forecast of economists in a Bloomberg survey called for a 0.2 percent advance. Incomes rose 0.2 percent, with falling prices applying a drag on the nominal figures.