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Solid U.S. consumer spending in January and a pick-up in inflation by the most in four years, has put a Federal Reserve interest rate hike in 2016 back on the table. According to data released on February 26 by the US Commerce Department, consumer spending increased 0.5 percent as households spent more on a variety of items and the return of cold weather led to increased demand for heating oil and natural gas. Consumer spending, which accounts for more than tw0-thirds of U.S. economic activity, rose by an upwardly revised 0.1 percent in December.
U.S. Gross Domestic Product increased at ... (read more)