Consumer Spending Flat, Jobless Claims Up
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Consumers were tightfisted with their money amid soaring gasoline costs in August and hurricane-related disruptions last week sent applications for jobless benefits to their highest level in seven months.
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U.S. consumer prices rose modestly in November as energy costs that had shot up a month earlier and fanned inflation fears posted only a small gain last month, the Labor Department said on Friday.
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US consumer spending climbed 0.6 percent as expected in September and inflation remained benign, government data showed on Monday, as shoppers splashed out after showing restraint the previous month.
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The number of Americans filing initial claims for unemployment benefits rose last week to 333,000, the Labor Department said on Wednesday, but the increase was lower than expected.
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Spending rose slightly more than expected, while personal income rose 0.5 percent, the government said. For all of 2007, consumer spending grew by 5.5 percent, the weakest growth since 2003.
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Consumer spending rose slightly in July, though tepid growth in personal income raised concern about whether the trend will continue.
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WASHINGTON : Healthy wage growth boosted US personal incomes by 0.4 percent in August, but consumer spending was flat for the month, the Commerce Department said.
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Stocks opened little changed on Thursday after signs of strength in business investment offset higher-than-expected jobless claims data.
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After taking a rest in June, the nation's consumers were full of energy last month, boosting their spending by a strong 0.8 percent, a hopeful sign the economy may be emerging from a summer funk.
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U.S. consumer prices rose modestly  in November as energy costs that had shot up a month earlier  and fanned inflation fears posted only a small gain last month,  the Labor Department said on Friday.
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Consumers' assessment of the economy held largely steady this month, according to a university research report released Friday.
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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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The number of Americans filing new  claims for jobless benefits rose 25,000 last week to 349,000, a  government report showed on Thursday, with some analysts citing  the U.S. Thanksgiving holiday as distorting the data.
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U.S. consumer spending rebounded  sharply July, government data showed on Monday, erasing the  disappointment of June and bolstering hopes that the U.S.  economy has recovered from its recent soft spot.
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U.S. incomes and spending rose in  October, providing the means for consumers to keep spending as  the holiday shopping season approached, while core consumer  prices rose modestly, the government reported on Thursday.
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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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Consumer spending climbed 0.6% in September, in line with expectations, as shoppers splashed out after showing restraint the month before, government data showed Monday.