Reported about 10 hours ago
January's Personal Consumption Expenditure (PCE) data showed a core increase of 0.3% month-over-month and 2.6% year-over-year, with consumer spending identified as a crucial driver. Mizuho America's chief economist, Steven Ricchiuto, indicates that despite a slowdown in January, consumer spending rose over 4% in the fourth quarter of 2024, suggesting a robust economic trend. He reassures that the underlying strength in services would continue to dominate the economy, despite historical patterns indicating potential first-quarter weakness.
Source: YAHOO