US Data Deluge Betrays More Small Cracks In MAGA Economy

US Data Deluge Betrays More Small Cracks In MAGA Economy

Friday's data deluge in the US revealed more cracks in the MAGA economy, as consumers reined in purchases, and business investment slowed during a month defined by trade tensions, recession fears and market volatility. Consumer spending rose just 0.1% MoM in August, the most meager gain in six months, data showed. Income gains were decent, though, which ostensibly suggests Americans still have the capacity to spend and thereby prolong the expansion in the absence of news that dents confidence
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