Consumers Fuel Faster Economic Growth
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Robust consumer spending on cars, furniture and food helped the U.S. economy advance faster than first thought in the third quarter, a government report showed, while underlying inflation was the tamest in decades.
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Consumer spending grew in April at the fastest pace in three months but much of that spending went to pay for higher gasoline prices. Rising price pressures pushed a key gauge of inflation favored by the Federal Reserve up by the largest amount in 13 months.
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The more your money multiplies, the easier its growth gets.
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After taking a rest in June, the nation&#39;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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The nationâs service economy expanded at a faster-than-expected clip in June, a research group said Thursday.
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The US economy grew faster than expected in the last quarter of 2006, lifted by consumer spending.
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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent -- faster than expected. The reading on gross domestic product, released Wednesday by the Commerce Department
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Increased spending by consumers and business helps US economic growth rise at a higher-than-predicted rate in the July to September period.
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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent --  even faster than previously thought.
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WASHINGTON - The US economy grew at a four per cent annual rate in the third quarter, slightly faster than the 3.9 per cent economists had been expecting.
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US consumers spend more in May than the month before, encouraged by higher personal income.
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Improving labor market conditions and cheaper energy prices led to a sharp increase in a widely watched indicator of consumer confidence in the economy in December, a good sign for growth heading into the new year.
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The economy -- helped out by more brisk consumer and business spending -- grew at an annual rate of 3.9 percent in the third quarter, a performance that was stronger than previously thought.
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Consumers  --  who play an important role in shaping economic activity  --  spent briskly in October, an encouraging sign that the final quarter of 2004 is getting off to a decent start. Incomes rose sharply.
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The US economy grew at a faster-than-expected 3.9 percent annual pace in the third quarter of 2004, powered by robust consumer and business spending, the government revealed.
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The economy grew at a faster than expected annual pace of 3.0 percent during the first quarter of 2007, official data showed on Friday.
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US consumer prices rose in October, spurred by energy and food costs, and industrial production and housing starts surged, suggesting the Federal Reserve may keep raising its benchmark interest rate.