Reported about 13 hours ago
In March, U.S. consumer spending saw a strong increase of 0.7%, driven by higher purchases of motor vehicles as families sought to beat rising prices linked to tariffs. However, the broader economy continues to face challenges, with GDP contracting at a 0.3% annualized rate. The inflation rate, although elevated, remained stable, prompting concerns over stagflation as consumers' inflation expectations hit a peak not seen since 1981.
Source: YAHOO