Us Consumer Spending Up 0.2 Percent In October

The rise in spending reflected a 0.2 percent increase in spending on non-durable goods such as clothing and a 0.3 percent rise in spending on services such as utility payments and rent. The 3.9 percent third quarter increase in the gross domestic product, the economy's total output of goods and services, represented an upward revision from an initial estimate of 3.5 percent with much of the new-found strength coming from faster consumer spending. Economists believe spending will remain solid in the current October-December quarter thanks in part to solid gains in employment and falling gas prices, which give people more to spend elsewhere. On top of an improving job picture, the adverse impact of earlier government spending cuts and tax hikes will ease following five straight years of sub-par growth.

Topics:  economists   on   percent   october   solid   rise   increase   goods   services   quarter   
BING NEWS:
  • Groceries In MN Cost 25 Percent More Since COVID, New Study Finds
    About 25 percent more since March 2020, according to an analysis of consumer data from TraceOne, a software solutions company. And while Americans have seen grocery prices increase at the fastest ...
    05/3/2024 - 8:17 am | View Link
  • Mulberry sales decline 4 percent in FY24
    In a year end trading statement, Mulberry Group said, against a backdrop of challenging macroeconomic conditions and a decline in luxury consumer spending.
    05/1/2024 - 8:19 pm | View Link
  • Big 5 Sporting Goods Falls to Q1 Loss as Comps Fall 13.5 Percent
    Big 5 Sporting Goods Corporation has reported net sales for the fiscal 2024 first quarter were $193.4 million, compared to net sales of $224.9 million for the first quarter of fiscal 2023. Same-store ...
    04/30/2024 - 10:34 am | View Link
  • Chinese outbound tourists’ spending to boost economic growth of overseas destinations
    Staff members welcome Chinese tourists at Suvarnabhumi airport in Bangkok, Thailand, Sept. 25, 2023. Thailand extended a warm welcome to the first batch of visa-exempt flights from China on Monday, ...
    04/29/2024 - 3:15 am | View Link
  • World Insights: U.S. skyrocketing military spending upsets world
    A recently released report showed that defense spending by the United States -- the world largest military spender -- accounted for nearly 40 percent ...
    04/27/2024 - 4:57 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News