Total spending went up 0.6% m/m. Overall, total consumer spending increased 1.9% in 3-month average terms and 6.5% over the past 12 months.
Report
June 25, 2020
US Economic Update – June 2020
May rebound, but virus spread a risk.
Key highlights
- The US economy started to recover in May and this appears to have continued into June.
- There has been an increase in the number of COVID-19 cases, raising the risk of delays to further easing of restrictions in some locations, or even a re-imposition of restrictions.
- The Fed is likely to move to outcome or date based forward guidance but the bottom line is that the fed funds rate will stay at its current level for a long time.
Find out more in NAB’s US Economic Update – June 2020
