US personal income and spending ticked higher in February, but the year-over-year growth trend slowed on both counts, the Bureau of Economic Analysis reports. There’s still a positive trend in the numbers—enough to keep the economy expanding for the near-term future, but today’s numbers leave little room for arguing that growth is set to accelerate after what’s shaping up as a sluggish first quarter.
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The five-week streak of higher prices hit a wall last week for the major asset classes via a set of proxy ETFs. For the first time in over a month, losses dominated the trading week just passed. The four-day stretch through Mar. 24 (the Good Friday holiday trimmed the usual schedule) dispensed losses across the board—the broadest setback since early February.
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● US GDP growth in Q4:2015 revised up to 1.4% | BEA
● Consumer spending boosted 4Q growth | The Hill
● US corporate profits fall in 2015 for first time since 2008 | MarketWatch
● Q1:2016 GDP growth estimate stumbles to 1.4% via GDPNow Model | Atlanta Fed
● NABE survey: economists see slower US growth in 2016 | MNI
● Why hasn’t America’s economy recovered more robustly? | Time
● Global economy snapping back into gear? | FT (Gavyn Davies)