Soft Landing Odds Slip Away As Consumer Spending Fades

Soft Landing Odds Slip Away As Consumer Spending Fades

Personal spending rose half as much as expected in the world's largest economy last month, closely watched data out Thursday showed. The lackluster read on consumption was insult to injury following a sharp (or "shock" if you like hyperbole) downward revision to the spending component of first quarter GDP. May's meager 0.2% rise compared unfavorably to expectations for a 0.4% gain. Downward revisions, including a large cut to April's print, didn't help. Real personal spending fell 0.4% (red da
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2 thoughts on “Soft Landing Odds Slip Away As Consumer Spending Fades

  1. Again… if spending was a non trivial component of inflation (esp. putting asides the Ukraine war impact on food/energy) – how did people expect inflation to come down?! Spending has to slow!

  2. Spending will begin to tick up again when prices start to come down. The more they come down, the more spending we’ll return to party-like-it’s-1999 levels. That observation is not incompatible, imo, with a soft landing scenario.

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