While macro events continue to raise concern among investors, the US economy remains resilient
While macro events continue to raise concern among investors, the US economy remains resilient. Today's personal spending and income numbers are another strong sign there's no recession risk in the US right now. Personal spending rose 0.5% last month, compared to a consensus prediction of 0.4%, and just a 0.1% increase n July. Personal income climbed 0.3%, roughly in line with expectations, and higher than July's 0.2% gain. More importantly, core spending (which takes out food and energy) rose 0.1% from last month, and was expected to remain unchanged. The core expenditures number is important as it's a preferred metric of the Fed. The Fed wants to see wage and spending growth, along with a decrease in unemployment, in order to ensure slack is coming out of the job market. (VIEW LINK)
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
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