American spending in January and their income in February fell short of expectations

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In January, the US population increased spending by 0.1% compared to December, the country's Department of Commerce reported. Economists had expected American spending to grow by 0.3%. A weak increase in the indicator in January is due to a decrease in sales of new cars in the country. As already reported, the incomes of US citizens in January showed an unexpected decrease of 0.1%. In February, household incomes increased by 0.2%. According to experts, they were supposed to increase by 0.3%. The PCE Core index, the dynamics of which are important for the Federal Reserve System in assessing inflation risks, rose by 0.1% in January against December, and it grew by 1.8% in annual terms. In January, there was a decrease in real disposable incomes of US citizens by 0.2% compared with the December figure. The savings rate was 7.5%, down from 7.7% a month earlier.

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