By- sksblogs.com (Sanjay Kumar Saini)
The US Department of Commerce said on Friday that consumer spending in the country increased by 0.8 percent in April. Two months in expenses. After the decline, there was a higher-than-expected increase. Americans spend on cars, restaurant food, movies and other items. Income after tax has increased by 0.4 percent. According to the Labor Department, the rate of people employed last month was the highest in two decades. More so. Business investment has also increased in April. The corporate executive expects demand not to fall too much in the coming months. Corporate economist Robert Frick says, the possibility of recession has subsided. By the way, there is a problem with inflation being at a high level.
This can cause the Federal Reserve to raise interest rates. It is not clear how long economic activity is supported by consumers.