US Consumer Spending Disappoints

US consumer spending failed to match predictions rising only 0.2 percent for the month of September. During the same month, incomes fell by 0.1 percent.

“The quarter ended on a softer note,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York. The report “reinforces the case for the Fed to act this week. It’s getting harder and harder to argue inflation is near where the Fed wants it to be.”

Source: Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.