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0 0.000216239593469521 -0.000108119796734837 0 -0.00302735430857391 -0.00172991674775663 -0.000108119796734837 0.00151367715428696
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Share this Story: U.S. consumer spending ends 2022 on weaker footing; inflation slowing [Financial Post (Toronto, Ontario, Canada)]

Wells Fargo & Company (WFC) 
Last wells fargo & company earnings: 4/14 07:46 am Check Earnings Report
US:NYSE Investor Relations: wellsfargo.com/about/investor-relations
Company Research Source: Financial Post
WASHINGTON — U.S. consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week. The report from the Commerce Department on Friday also showed the smallest gain in personal income in eight months, in part reflecting moderate wage growth, which does not bode well for consumer spending. Though the drop in spending was mostly in the goods sector, services outlays essentially stalled. “Hammered by higher prices and borrowing costs, and feeling less wealthy, U.S. households are cutting back, and will likely contribute to a contraction in GDP in the first quarter,” said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto. “The good news is that they are also pushing back against price hikes, which will help the Fed tackle inflation and limit further rate hikes.” Cons Show less Read more
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