Daily Times
May 2, 2021
US consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government, building a strong foundation for a further acceleration in consumption in the second quarter.
Other data on Friday showed labor costs jumped by the most in 14 years in the first quarter, driven by a pick-up in wage growth as companies competed for workers to boost production. The White House’s massive $1.9 trillion fiscal stimulus and rapidly improving public health are unleashing pent-up demand.
“While we aren’t completely out of the woods yet, today’s report shows the beginning of an economic rebound,” said Brendan Coughlin, head of consumer banking at Citizens in Boston. “Assuming no setback in the continued rollout of the vaccines, US consumers are well-positioned in the second half of the year to stimulate strong economic growth across the country.” Consumer spending, which accounts for more
Stimulus checks boost U.S. consumer spending; inflation warming up
By Lucia Mutikani
Reuters
WASHINGTON (Reuters) - U.S. consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government, building a strong foundation for a further acceleration in consumption in the second quarter.
Other data on Friday showed labor costs jumped by the most in 14 years in the first quarter, driven by a pick-up in wage growth as companies competed for workers to boost production. The White House s massive $1.9 trillion fiscal stimulus and rapidly improving public health are unleashing pent-up demand.
US consumer spending spurred by stimulus cheques
Lucia Mutikani
Save
Share
Washington | US consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government, building a strong foundation for a further acceleration in consumption in the second quarter.
Other data on Friday (Saturday AEST) showed labour costs jumped by the most in 14 years in the first quarter, driven by a pick-up in wage growth as companies competed for workers to boost production. The White Houseâs massive $US1.9 trillion fiscal stimulus and rapidly improving public health are unleashing pent-up demand.
Fed mantiene tasas de interés cerca de cero mientras recuperación EEUU cobra fuerza diariodigital.com.do - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from diariodigital.com.do Daily Mail and Mail on Sunday newspapers.