About: http://data.cimple.eu/news-article/6a1211116d93aad3f19067a686e32ccb31b6bca3ae2bb1957524f2a0

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

About: http://data.cimple.eu/news-article/6a1211116d93aad3f19067a686e32ccb31b6bca3ae2bb1957524f2a0 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	Americans saw more money in their pockets in January, but did not spend as much of it as expected, according to government data released Friday. Inflation meanwhile remains tepid, staying well below the Federal Reserve's two percent target. However, the Commerce Department data refers to the period before the intensification of the coronavirus outbreak, which has sent global markets plunging amid fears of widespread economic disruption. The January data showed income rose 0.6 percent, far higher than economists expected and a big jump from December's 0.1 percent gain. However, personal consumption expenditures (PCE) in the month were slower than expected, rising just 0.2 percent, half the increase of the prior month. The PCE price index edged up 0.1 percent, and the same as the "core" gauge that excludes volatile food and energy goods. "Amid rising uncertainty, consumers displayed more cautious spending at the start of the year. Still solid wage growth, hefty savings and elevated confidence only underpinned tepid outlays," Oxford Economics said in a note. The data also shows the Fed once again falling short of its 2.0 percent target for inflation, with inflation up 1.7 percent from January 2019 and up 1.6 percent when food and energy are excluded. "This persistent inflation undershoot reinforces the Fed's dovish bias and bolsters the case for a Fed rate cut as soon as March given the sharp tightening in financial conditions," Oxford Economics wrote. Hanging over the results is the COVID-19 outbreak, which Ian Shepherdson of Pantheon Macroeconomics said could cut into both spending and income. The virus has killed more than 2,800 people and infected over 83,000 worldwide -- the vast majority in China -- since it emerged apparently from an animal market in a central Chinese city in late December. "Spending is better than it looks, but sustainability depends on the US not suffering a major coronavirus outbreak," Shepherdson said, calling Friday's data "more old news, before the coronavirus." He predicts income growth could "take something of a hit over the next few months... due to coronavirus fears." cs/hs
schema:headline	US incomes grow in January but virus could change it all
schema:mentions	2020 coronavirus outbreak in Singapore Federal Reserve Oxford Inflation Energy City Virus China Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Personal consumption expenditures price index Ian Shepherdson Pantheon Macroeconomics United States Department of Commerce
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-02-28 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	65 (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, 11 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software