U.S. consumer spending rose briskly in January, despite increased prices and Covid-19 infections, but could cool in coming months if Russia’s invasion of Ukraine drives inflation higher, according to economists’ forecasts.

Economists surveyed by The Wall Street Journal expect the Commerce Department to report Friday that spending rose a seasonally adjusted 1.6% in January from the previous month, bouncing back from a 0.6% decline in December. They expect to see personal income fell 0.3% on the month following the expiration of the federal government’s monthly child tax credit.

This post first appeared on wsj.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Las Vegas police catch inmate who escaped prison while serving life for fatal bombing

Las Vegas police have apprehended a man who escaped prison earlier this…

Columns of tractors gather in Berlin for the climax of a week of protests by farmers

Columns of tractors rolled into Berlin on Monday as farmers gathered for…

The Asian women killed in Atlanta were more than the stereotypes that made them targets

After the mass shootings in Atlanta broke on Tuesday, police and some…

New Missouri law enables state officials to shut down abusive boarding schools

Missouri state agencies have gained more oversight authority over private facilities for…