US Consumer Spending Growth Slows To 1 Percent
Consumer spending, the primary driver of the US economy, is growing at a slower rate than in previous periods. Underlying economic growth was already weak before the recent energy shock caused by the war with Iran.
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Sources · 7 independent
WAMU 88.5 DC
“And consumer spending, which is the biggest driver of the economy, is growing, but not as fast as it once was. Even before the energy shock was fully fell, underlying growth was already quite weak.”
WBUR Boston
“economy. slow to half that pace, just 1% in the current quarter. wages were actually going up faster than prices so workers were seeing real increases in their buying power but now wage gains are slowing down just as inflation is heating up again. The Commerce Department said”
WAMU 88.5 DC
“but not terrible. growth could slow to half that pace, just 1%.”
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