Tag: March 1 2022

Consumer spending rose 2.1 percent in January after shrinking 0.8 percent in December, the U.S. commerce department reported. After factoring out price inflation, consumers bought 1.5 percent more goods and services, while after-tax household incomes declined 0.5 percent. Personal income for the month remained flat, due in part to the expiration of the expanded child...

IHS Markit’s U.S. Composite Purchasing Managers Index (PMI) rose to 56.0 in February from 51.6 in January, signaling a surge in economic activity, the data service said. Europe’s PMI jumped from 52.3 in January to 55.8 in February, the largest gain since September. In the U.K., the index shot up to 60.2 last month from...

The Core Personal Consumption Expenditures Price Index (PCE), the inflation gauge most closely watched by the U.S. Federal Reserve, rose 0.5 percent in January after adding the same amount in December. The PCE stood at a 5.2-percent annual rate at the end of January, up from 4.9 percent the month before and its fastest gain...

The U.S. economy expanded by 7 percent in 2021’s fourth quarter and 5.6 percent for all of 2021, the Commerce Department reported. The results edged past the department’s estimates of 6.9 and 5.5 percent, respectively. And for the week ending 5 February, a total of 1,476,000 eligible Americans were receiving jobless payments, down by about...