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U.S. consumer spending picked up in September
US consumer spending picked up pace in September, sustaining a three month surge that also represents a downturn in household saving, the Commerce Department reported Monday. Personal consumption expenditures last month rose 0.8 percent, or $87.9 billion, to $11.25 trillion, after an 0.5 percent pickup in August. Higher gasoline prices…
Sharp rise in U.S. retail sales signal improving consumer optimism
US retail sales rose sharply in September, official data released Monday showed, suggesting improving consumer optimism heading into the year-end holiday shopping season. Retail and food services sales rose 1.1 percent from August, the Commerce Department said, well above the 0.7 percent increase forecast by most analysts. Excluding gasoline sales,…
U.S. economy grew ‘modestly’ in September: Fed
The US economy grew “modestly” in September despite weak momentum in consumer spending, a Federal Reserve report published Wednesday showed. In its report known as the Beige Book, based on anecdotal information, the Fed said it was told “that economic activity generally expanded modestly since the last report” six weeks…
U.S. consumer spending growth slows in March
US consumer spending growth slowed in March after a strong February, even as personal income growth picked up pace, government data showed Monday. Consumer spending, which accounts for about 70 percent of US economic activity, rose 0.3 percent in March, the Commerce Department reported. That undershot the average analyst estimate…
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