US Economy Slowed in Recent Weeks With Inflation, Labor Cooling

12/01/2023 07:57
US Economy Slowed in Recent Weeks With Inflation, Labor Cooling

US consumer spending, inflation and the labor market all cooled in recent weeks, adding to evidence that the economy is slowing.

US consumer spending, inflation and the labor market all cooled in recent weeks, adding to evidence that the economy is slowing.

Inflation-adjusted personal spending rose 0.2% last month after a downwardly revised 0.3% advance in September, according to the Bureau of Economic Analysis. Separate data Thursday showed recurring applications for unemployment benefits rose to the highest in about two years.

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