TSG has been closely monitoring COVID-19 as it spreads worldwide. As the situation evolves, the health and safety of our staff, clients, and partners is the top priority. TSG ensures business continuity for its clients and partners. We want to assure you that our support for the payments industry will continue through this time of uncertainty – we are here for you. Please email us with any questions or concerns.

February 26, 2016Blog Posts

U.S. Consumer Spending Rose in January by Most in Eight Months

Bloomberg

Consumer purchases climbed in January by the most in eight months, fueled by faster earnings growth that’s being accompanied by rising inflation.

The 0.5 percent advance followed a 0.1 percent gain the prior month, a Commerce Department report showed Friday. The January figure exceeded the 0.3 percent median forecast in a Bloomberg survey. Incomes also climbed 0.5 percent, more than projected.

Steady hiring, cheap gasoline, and rising home values are powering Americans’ ability to boost spending, which accounts for almost 70 percent of the economy. The report also showed the Federal Reserve’s preferred measure of inflation rose by the most since October 2014, illustrating the challenge for U.S. central bankers as they consider tighter monetary policy amid feeble global markets.

Source

  • Share this post: