U.S. consumer spending grows in July, core PCE heats up
Source: Binance
Time: 2025-08-29 20:44:20
According to Jinshi data, U.S. consumer spending grew steadily in July, with core PCE heating up due to rising import tariffs. However, labor market conditions have weakened and may not prevent the Fed from cutting interest rates next month. Low layoffs support wage growth and promote consumption. President Trump imposed tariffs on imported goods, increasing corporate costs, resulting in cautious businesses and unwilling to increase staff. Government data shows that the average monthly employment increased by 35,000 in the three months to July, compared with 123,000 in the same period in 2024.