Consumer Spending Up Following June Decline
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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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US consumers delivered good news to the economy on Thursday, as data for July showed spending on goods and services was growing more quickly than at any time this year.
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U.S. consumers will curb spending this year after being hit by continued troubles in the housing sector, but business investment is set to pick up, adding to economic growth later this year, according to a survey of economists released on Sunday.
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U.S. consumer spending slipped in August but falling gasoline prices elevated shoppers' moods by September and Midwest factory activity picked up as well, according to reports on Friday that suggested the economy was still motoring along.
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Recent consumer spending suggests that the economy may not be slowing as suddenly as some economists had thought.
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Consumer prices rose by a slightly bigger-than-expected 0.2 percent in June on higher food costs and they were up by the same amount after stripping out volatile food and energy prices, the Labor Department reported on Wednesday.
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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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WASHINGTON -- Consumers boosted their spending in May as their incomes grew solidly, an encouraging sign that high gasoline prices haven't killed people's appetite to buy. Inflation moderated.
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US consumers, who substantially slowed their spending in late summer, roared back to life in September, boosting their purchases by 0.6 per cent.
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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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America's consumers came off a buying binge and were somewhat less jolly spenders in November. New-home sales, meanwhile, cooled from a record high, while demand for big-ticket manufactured goods rebounded.
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Consumer spending rebounded sharply July, government data showed Monday, erasing the disappointment of June and bolstering hopes that the US economy has recovered from its recent soft spot.
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Business & money: Gross domestic product rose by 0.8% in the three months to June.
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US consumer spending rose by the largest amount for six months in July, Commerce Department figures indicate.
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WASHINGTON - Americaâs consumers came off a buying binge and were less jolly spenders in November. Newhome sales, meanwhile, cooled from a record high, while demand for big-ticket manufactured goods rebounded.
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Wholesale inflation posted a better-than-expected reading in June as both food and energy costs retreated.
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Spending by US consumers rose in November, suggesting shoppers will continue to boost economic growth this quarter. The 0.2 percent gain in personal expenditures on goods and services