Consumer Spending Outlook Buckles with “Surprisingly Weak” Income Report

by Mike ‘Mish’ Shedlock
Mish Talk

Those trumping up the notion consumer spending would pick up in the first quarter were in for a surprise today.

The BEA report on Personal Income and Outlays was anything but strong.

Bloomberg Econoday found today’s report “surprising”.

The Econoday economist’s consensus reading for February was 0.1%, with the actual report coming in better at 0.2%.

The surprise was January took a nosedive from an initial report of +0.5% down to +0.1%.

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