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
September 3, 2018
US Economic Update – September 2018
US economy still strong, but trade concerns won’t go away.
Overview:
- The US economy continued to perform strongly in early Q3 2018 – growth is above trend and the unemployment rate is low and falling.
- With core inflation also returning to target, the Fed will continue to tighten monetary policy at a gradual (quarterly) pace with the next rate hike likely at its September meeting.
- Trade risks are still a major concern – particularly an escalation in US/China trade barriers and while progress has been made on NAFTA it could still fall over.
For further details please see the attached document:
