Today data on personal income and spending showed lower-than-expected numbers. Analysts at Wells Fargo, point out that the bad news is that December real consumer spending nosedived 0.6%, the biggest one-month drop since the recession year of 2009. They see that consumers face some headwinds, but they don’t see this is as the start of a collapse in spending. Key Quotes: “After an already-released retail sales report showed a big drop in December, the consensus was braced for a 0.3% decline. The actual outturn was twice as bad, as real spending dropped 0.6%. We are highly suspicious of the December data.“ “There are some headwinds for consumers. Markets have been volatile, the shutdown added to uncertainty and there is some evidence that tax refunds might be slightly behind schedule. We anticipate moderation rather than outright declines in consumer spending this year. Personal income was down in January, which may reflect the shutdown, or more likely an inevitable giveback after an upwardly revised surge of 1.0% in December.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY finds resistance near 112, floats above 200-DMA FX Street 4 years Today data on personal income and spending showed lower-than-expected numbers. Analysts at Wells Fargo, point out that the bad news is that December real consumer spending nosedived 0.6%, the biggest one-month drop since the recession year of 2009. They see that consumers face some headwinds, but they don't see this is as the start of a collapse in spending. Key Quotes: "After an already-released retail sales report showed a big drop in December, the consensus was braced for a 0.3% decline. The actual outturn was twice as bad, as real spending dropped 0.6%. We are highly suspicious of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
