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What to Know About US Economy's Hot January Data

US economy was unseasonably hot in January with consumer spending jumping and unemployment rate retreating to 53-year low. Temperate weather, pandemic-driven supply chain challenges, COLA, & tax accounting all contributed to strength.

1 min read
  • US had unseasonably hot January economically with biggest jump in consumer spending in 2 years & reacceleration in inflation.
  • Underpinned by exuberant labor market with job growth topping estimates & unemployment rate at 53-year low.
  • Temperate weather, pandemic-driven supply chain challenges, COLA, & tax accounting all contributed to strength.
  • Caveats include weather, changing shopping patterns, COLA, & tax accounting.
  • Revisions to disposable income likely coming down the pipeline.
What to Know About US Economy's Hot January Data
The US was unseasonably hot in January, and it wasn’t just the weather.
BloombergReade Pickert

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