U.S. consumer spending slows; inflation pressures firming

[McFurd]

Reuters - 3/1/2017 - Lucia Mutikani - U.S. consumer spending cooled in January as demand for automobiles and utilities fell, but inflation recorded its biggest monthly increase in four years, raising the probability of an interest rate hike from the Federal Reserve this month. The tepid gain in consumer spending added to weak housing starts, equipment spending and construction data in suggesting economic growth remained moderate early in the first quarter after slowing in the final three months of 2016. Despite the softness on the demand-side of the economy, the manufacturing sector recovery is gaining steam. Factory activity hit a 2-1/2-year high in February, other data showed on Wednesday. Read more @ http://www.reuters.com/article/us-usa-e ... SKBN1684I8