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The recent resilience in consumers’ spending probably is on borrowed time.
Labor demand still trending down, implying March payrolls jump was just a blip.
Spending growth probably still slowing, labor market still weak.
Further reason to expect a consumer slowdown.
Probably providing a false read on services inflation.
Encouraging signs, but an unreliable guide to the hard data.
Still pointing to a weaker labor market, but big recent revisions raise questions.
Spending slowdown and further labor market weakness are likely.
Still an unreliable guide to services spending.
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