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Consumer Spending Could Be Slowed by Inflation, Omicron
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Consumer spending, a key engine of economic growth, has shown signs of stalling heading into 2022, amid rising prices and the Omicron wave.
Economists surveyed by The Wall Street Journal estimate that consumer outlays declined by 0.7% in December from the prior month, as prices rose at their fastest pace in nearly four decades. The Commerce Department will release a report on consumption and inflation in December at 8:30 a.m. ET Friday. The report comes on the heels of separate data showing retail sales declined last month.
Read more on wsj.comAbout this in other media
Economy Week Ahead: Inflation, Consumer Spending, Home Sales wsj.com /2 years ago
What to Expect When Consumers Don’t Expect Inflation to Last wsj.com /2 years ago
UK economy contracts by 0.2% as Omicron dents spending theguardian.com /2 years ago
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