Sunday, May 01, 2016 9:42:05 PM
“Most would agree that the U.S. economy is still in far better shape overall,” Philip Borkin, a senior economist in Auckland at ANZ Bank New Zealand Ltd., said in a note to clients Monday. “But the recent softness has many mindful nonetheless, and means there is now a huge focus on this week’s U.S. payrolls and next week’s retail sales data. While most would agree that the labor market is in reasonable health, activity data has certainly presented more of a clouded picture of late.”
Consumer spending rose less than economists forecast in March, data Friday showed, wrapping up the weakest quarter in a year for the biggest part of the U.S. economy even as incomes accelerated. A tempering of household purchases for the last three quarters has surprised economists given the favorable backdrop of low inflation, job gains and cheap borrowing costs. A report on Friday is projected by economists to show nonfarm payrolls in the U.S. rose by 200,000 workers in April, after climbing by 215,000 in March."
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