About: http://data.cimple.eu/news-article/3a90edccb1618a18094d00d6c6d43bb98a44a0532f7daf3c4384ad14

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/3a90edccb1618a18094d00d6c6d43bb98a44a0532f7daf3c4384ad14 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	US personal income plunged 7.1 percent in February as the effect of stimulus checks approved late last year faded, the Commerce Department said on Friday. The data was in line with analysts expectations, but nonetheless a significant change from the upwardly revised 10.1 percent income growth in January, when consumers were receiving checks intended to encourage spending amid the pandemic downturn. "The decrease in personal income in February was more than accounted for by a decrease in government social benefits to persons," the Commerce Department said, adding that pandemic business restrictions in the month also affected the data, leading income to drop by more than $1.5 trillion. Spending fell by $149 billion or 1.0 percent, slightly worse than forecast, with a $155.9 billion decline in spending on goods offset by a $7 billion increase in services spending. Prices grew at a less-than-expected 0.2 percent in February, 1.6 percent higher than the same month in 2020. The lack of an uptick in prices may soothe stock markets, which have grown wary that the $900 billion relief measure Congress approved in December and a $1.9 trillion bill approved this month, will overheat the economy and cause inflation to rise. That could prompt the Federal Reserve to raise interest rates from their zero level sooner than they expect to in 2024, ending the easy money policies that have helped indices rebound sharply over the past year even as the wider economy has suffered. The savings rate also fell to 13.6 percent with $2.4 trillion in consumers' pockets, about where it was in December before the checks were mailed out. The relief measure passed this month doles out another round of checks of as much as $1,400 per-person, and Rubeela Farooqi of High Frequency Economics said to expect a similar dynamic in that month's data, with income climbing again. "Overall, prospects for growth have brightened on a combination of factors, including progress on vaccinations, although virus cases have been edging up in recent days," she said. "As restrictions are relaxed and support measures are delivered, household spending is set to lift growth in" the first quarter, she added. cs/jm
schema:headline	US personal income declines 7.1% in February: govt
schema:mentions	Federal Reserve Inflation United States Congress Pandemic Virus High Frequency Economics Farooqi United States Department of Commerce
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	63 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software