US economy budget report released yesterday House. turned out to be significantly worse than market expectations. Not only was the expenses in April revised significantly (from + 0.9% MoM to + 0.6% MoM), but their May reading also failed (+ 0.2% MoM vs expected + 0.4% m / m).

This bad result was mainly due to the decline in spending on motor vehicles (USD -53 billion). Nevertheless, the weak tone of the report was emphasized by the fact that the only, greater increases in expenditure were recorded in goods related to energy (mainly gasoline) and housing costs. The same picture was presented by the remaining basic categories, which neither indicate a good condition of the consumer nor his high propensity to consume.