Consumer Spending, Commerce Department | featured news

Consumer Spending in U.S. Increases 0.8% as Incomes Climb

Consumer Spending

Consumer spending in the U.S. climbed more than forecast in September, a sign the biggest part of the economy was picking up as the quarter drew to a close. Household purchases, which account for about 70 percent of gross domestic product, rose 0.8 percent, the most since February, after advancing 0.5 percent in August, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 71 economists called for a 0.6 percent gain. Incomes climbed 0.4 percent, the most since March.

 

US Consumer Spending Slowed in March, Income Rose

Americans increased their spending more slowly in March, raising questions that consumers could be worried about the economy. The Commerce Department says consumer spending increased just 0.3 percent in March after a 0.9 percent gain in February. Income grew 0.4 percent following a 0.3 percent gain in February.

 

Economy grew at weak 1.3 pct. rate in April-June period; slight improvement seen rest of year

The economy grew slightly faster in the spring than previously estimated but remained dangerously weak in the face of high unemployment and higher gas prices. Many economists foresee slightly better growth in the current July-September quarter. The annual growth rate was 1.3 percent in the April-June quarter, up from an estimate of 1 percent made a month ago, the Commerce Department said Thursday. The improvement reflected modestly more consumer spending and a bigger boost from trade.

 

U.S. Consumer Spending Rallied in July

U.S. Consumer Spending Rallied in July

Spending rebounded strongly to post the largest increase in five months, the Commerce Department said.

 

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