How are the U.S. economic numbers changing?

>How have the U.S. economic figures changed? Starting from the third quarter of this year, American consumers’ spending increased the most in five months, and they hope that economic growth will continue...

Starting from the third quarter of this year, American consumers’ spending increased by the most in five months, and they hope that economic growth will continue.

However, other data last week showed that the number of people filing for unemployment benefits was unchanged from last week, indicating a lack of strong improvement in the labor market to avoid the stimulus of additional monetary policy from the Federal Reserve.

The U.S. Commerce Department said consumer spending increased 0.4% after being flat in June. Last month's growth in consumption, which accounts for 70% of U.S. economic activity, was in line with economists' forecasts.

After adjusting for inflation, consumer spending increased 0.4%, the largest increase since February.

Millan Mulraine, senior macro strategist at TD Securities in New York, said: "The improvement in consumer activity proves that overall economic activity may be off to a pretty good start in the third quarter." The second report from the U.S. Department of Labor showed that the number of initial jobless claims was unchanged at 374,000. Growth over the past four weeks has averaged an increase of 1,500 people.

These figures better measure the development trend of the labor market.

Although consumer spending and housing data suggested that economic activity improved in the third quarter, the state of the labor market could determine whether the Federal Reserve will propose additional monetary stimulus for the economy at its September 12-13 policy meeting.

In July, the unemployment rate rose to 8.3%. The U.S. unemployment rate has stayed above 8% for the past three years. In addition, business spending has declined and inflation is slowing. Paul Dales, senior economist at Capital Economics, said: "Today's data is not strong enough to prevent the Federal Reserve from launching stimulus policies in mid-September."

In fact, after adjusting for inflation in June, consumer spending fell 0.1%. However, last month's consumption growth is an encouraging sign for the second quarter.

From April to June, sluggish consumer spending maintained a slow growth rate of 1.7% per year.

Last month, household spending increased and income increased by 0.3%, rising at the same rate as in June. Income growth after deducting inflation and household taxes has decreased, but the savings rate has decreased, falling from 4.3% in June to 4.2% in July.