“The consumer is in good shape. Income is growing at a fast enough pace to drive healthy levels of consumption,” one market strategist said.
Although personal income barely budged in March, consumer spending rose and a key inflation metric was flat — good news for the market as well as for ordinary Americans.
Economists worried that the December market volatility would derail the consumer spending engine that powers the economy. These figures are a relief in that they point to the resilience of consumer activity. “There’s plenty of capacity, there’s plenty of goods available, and while there’s been an uptick in wages, it’s not that meaningful yet,” Samana said.
“What most of the street is looking for is clues whether or not the data is running hot, which would potentially bring the Fed back into play. That’s not the case yet,” Cox said. “Employers can’t find the people with the right skills, so they have to hire at unskilled wages and train them. You also have people coming into the workforce that may have been out of the workforce for a while without the right skills and lower productivity,” said Dan North, chief economist at Euler Hermes North America.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's how to save 50% of your income, from real people who have done itHere's how to save 50% of your income, from real people who have done it via CNBCMakeIt
Read more »
The Daily 202: Democratic candidates will be pushed to provide specific plans on reducing income inequalityBarack Obama’s poor showing at a 2007 forum on health care shadows SEIU-CAP event in Las Vegas.
Read more »
How do you stack up to the average income in your state?The average household income in the U.S. varies considerably by state. Check out how your income compares.
Read more »
For Musicians, Screen Time Is a Growing Source of IncomeLicensing music for ads, TV, movies and other visual media—placements known as “sync”—is a growth engine for the recording business and increasingly the way many artists make a living.
Read more »
DBS first-quarter profit rises 8.5 percent on higher net interest incomeDBS Group Holdings Ltd, Southeast Asia's biggest lender, reported an 8.5 pe...
Read more »
DBS posts record quarterly profit, powered by lending incomeDBS Group Holdings Ltd, Southeast Asia's biggest lender, beat market estima...
Read more »
This one investment move can give you lifetime yearly income in retirementA simple annuity is a good way to keep from running out of money, writes Michael Edesess.
Read more »
Your credit score isn't the only number lenders use to decide if you're trustworthyLenders look at debt-to-income ratio — monthly debt payments divided by monthly gross income — to decide whether a borrower can afford another loan.
Read more »
Does Universal Basic Income Work? This Hedge Fund Boss Wants to Find OutBob Jain’s family institute is seeking to settle a hot debate in policy circles as the left and right grapple with the economic consequences of inequality
Read more »