Consumer spending is sluggish in June
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Consumer spending was weak for a fourth straight month in June as rising gasoline prices left Americans with little to spend on other items. A key measure of inflation rose at the fastest pace in more than a decade.
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Consumer spending slowed sharply in May as rising gasoline prices left Americans with less to spend on other items, the government reported Friday.
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Consumers lost a little of their enthusiasm for auto purchases last month but spent like mad in a number of other areas including clothing and gasoline, the Commerce Department reported Friday.
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The Commerce Department said consumer spending rose by 0.4 percent in July, double the June increase. The spending was supported by a solid 0.5 percent rise in incomes.
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Shoppers spent more freely in July as consumer spending rose slightly, though tepid growth in personal income raised concern about whether the trend will continue.
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WASHINGTON -- Consumers put away their wallets in June, sending retail sales crashing by the sharpest amount in nearly two years.
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Retail sales growth stalled in June, leaving merchants wondering whether shoppers who were resilient for much of the year are now curbing their spending because of higher gas prices.
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Retail sales slowed last month, official data showed Thursday, as the country&#39;s wettest June on record kept consumers away from the highstreet.
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US consumer spending rebounded in July, a sign the economy may be emerging from an early summer decline. Consumer spending rose 0.8% last month, boosted by car and retail sales.
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Americans spent less than forecast in May, a sign that a consumer slowdown is restraining price pressures.
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The nation's consumers, uninspired by this season's fashions and rattled by high gas prices and the weakening home market, shopped gingerly last month, extending the misery of retailers who have struggled with a spending slowdown since February.
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U.S. consumer spending was unexpectedly flat in August, government data showed on Thursday, as shoppers exercised restraint after splashing out even more than previously thought during the previous month.
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WASHINGTON: United States consumer spending rebounded sharply in July, government data showed yesterday, erasing the disappointment of June and bolstering hopes that the US economy has recovered from its recent soft spot.
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Consumers were eager to buy iPhones and flat-screen TVs in June, but their reluctance to purchase clothing and other non-essentials has retailers worried about the success of the back-to-school shopping season.
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US consumer spending rose 0.8 percent in July after a smaller decline in June than previously reported, a sign the economy is accelerating.
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Shoppers turned tightfisted in August, dropping sales at the nation's retailers by 0.3 percent, providing fresh evidence of an erratic pace of consumer spending in recent months.
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U.S. new home sales fell in May while consumer confidence hit a 10-month low in June on worries about jobs and the business climate, adding to signs of sluggish economic growth.