dChan - Q Origins Project Archive

Look at how many ways you can shine a turd here....the fake inflation #s ticked down by 2/10s of a % for April's reading and they are still celebrating. Wait Until June 10th when it reads over 9% for May

US Economic Data Signals Firmer Growth That May Ease by Yearend

Firmer consumer spending and a decisive narrowing of the merchandise trade deficit show the US economy is emerging in short order from a first-quarter pothole. Sustaining that momentum later this year is more of a question mark as manufacturing and housing soften along with employment and wage growth. Inflation, while easing a bit, remains elevated and the Federal Reserve will continue to press harder on the monetary policy brakes.

In April, inflation-adjusted household purchases posted the strongest advance in three months and will help queue up a rebound in gross domestic product this quarter. The goods-trade deficit a huge contributor to the 1.5% annualized decline in first-quarter GDP shrank last month by the most since 2009.

While these developments are reasons for optimism about the economy, regional manufacturing surveys showed setbacks, while orders for capital equipment moderated a touch. Next week, the government is projected to report that employment growth cooled in May, suggesting labor demand is starting to become less heated. That may help to alleviate wage pressures later this year and eventually provide some comfort to central bankers as they seek to reduce inflation. Consumer spending was strong in April, rising 0.7% on an inflation-adjusted basis. But the saving rate fell to the lowest level since 2008, indicating that Americans are increasingly relying on savings as price pressures strain budgets.

The spending increase was broad-based, driven by both goods and services. Economists have been expecting demand for services like travel and entertainment to outpace outlays for merchandise as pandemic concerns subside, but inflation-adjusted spending on goods rose 1% in April from the prior month and services increased 0.5%. The “report makes clear that consumers continue to consume despite facing the highest inflation in 40 years,” Wells Fargo & Co. economists Tim Quinlan and Shannon Seery wrote in a note. “But, we’re getting closer to the end of the lollipop,” they said, noting the decline in the saving rate.

At the same time, while year-over-year inflation is cooling, it is still running three times faster than the Fed’s 2% target and helps explain why central bankers are expected to implement half-point interest rate hikes in coming meetings. That could also lead to a downshift in consumer spending over the next several quarters, the Wells Fargo economists wrote.

https://www.bloomberg.com/news/articles/2022-05-28/us-economic-data-signals-firmer-growth-that-may-ease-by-yearend

Whoever wrote this article with the data they had at fingertips should be sacked

look at the picture from thearticle...:I

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