Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  March 29, 2013 15:13:15

U.S. - Consumer spending rose in February, the most in the last 5 months and exceeded market expectations


Consumer spending in the U.S. in February, according to the local Conference Board rose by 0.7% compared to the January increase of 0.4%. The market, on average, counted with growth of 0.6% in the overall estimates range from +0.3 to +0.9%. The January increase was preliminarily estimated at 0.2%. After adjustment for inflation, consumer spending rose again by 0.3%.

Americans' incomes rose in February by 1.1%, which exceeded market expectations is set to grow by 0.8%. In January, revenues fell by 3.7%, which was mainly due to increase taxes.
Savings rate rose from 2.2% five-year low of 2.6%. Salaries and wages grew o0, 6% compared to the same the January decline.
Disposable income, which reflects the adjustment for taxes and the impact of inflation, rose in February by 0.7%. In January this indicator fell by 4%.

Consumer spending in the U.S. are the main engine 70procentním share of total GDP.
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