Personal Spending Growth Tumbles To 7-Month Lows After Dramatic Revisions
by Tyler Durden
ZeroHedge.com
May 30, 2017
Having weakened to unchanged for the last two months, April saw personal spending rise 0.4% MoM (as expected) and personal income rise 0.4% MoM (as expected). However, year-over-year growth in spending (+4.3%, weakest since Sept 2016) and income (+3.6%, weakest since Jan 2017) both signaled a rolling over of the post-Trump exuberance (just in time for another rate-hike by the The Fed).
Major (upward) revisions to spending data seems to have exaggerated April’s demise…
The Rest…HERE
