SOWPub Small Business Forums  
 

Click Here to see the latest posts!

Ask any questions related to business / entrepreneurship / money-making / life
or share your success stories (and educational "failures")...

Get the report on Harvey Brody's Answers to a Question-Oriented-Person

NO BLATANT ADS PLEASE
Also, please no insults or personal attacks.
Feel free to link to your web site though at the end of your posts.

Stay up to date! Get email notifications or
get "new thread" feeds here

 

Go Back   SOWPub Small Business Forums > Main Category > SOWPub Business Forum
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

SOWPub Business Forum Seeds of Wisdom Forum

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old October 31, 2017, 11:11 PM
Josesv Josesv is offline
Member
 
Join Date: Oct 2017
Posts: 1
Default U.S. consumer spending recorded its biggest increase

U.S. consumer spending recorded its biggest increase in more than eight years in September, likely as households in Texas and Florida replaced flood-damaged motor vehicles, but underlying inflation remained muted.

Households, however, dipped into their savings to fund purchases last month, pushing savings to their lowest level since 2008. Against the backdrop of lackluster wage growth, the drop in savings suggests that September’s robust pace of consumer spending is probably unsustainable.

“Relying on consumer savings to move the economy forward is not going to last for long,” said Chris Rupkey, chief economist at MUFG in New York.

The Commerce Department said on Monday consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 1.0 percent last month after an unrevised 0.1 percent gain in August. The increase, which also included a boost from higher household spending on utilities, was the largest since August 2009.

Economists had forecast consumer spending increasing 0.8 percent in September. The data was included in last Friday’s third-quarter gross domestic product report, which showed consumer spending growth slowing to a 2.4 percent annualized rate after a robust 3.3 percent pace in the second quarter.

The moderation in consumption was offset by a rise in inventory investment, business spending on equipment and a drop in imports, which left the economy growing at a 3.0 percent rate in the third quarter after the April-June period’s brisk 3.1 percent pace.

Last edited by GordonJ : November 1, 2017 at 12:22 PM.
Reply With Quote
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Seeds of Wisdom Publishing (front page) | Seeds of Wisdom Business forum | Seeds of Wisdom Original Business Forum (Archive) | Hidden Unusual Business Ideas Newsletter | The Great Ideas Letter on CD | Hotsheet Profits | The Art of Leverage | The Success Report | Persuade via Remote Influence | Writer's Friend (software) | The Entrepreneur's Hotsheet | The SeedZine (Entrepreneurial Ezine) | The Fly Low Collect Dough Update Hotline

All times are GMT -4. The time now is 06:10 AM.


Powered by vBulletin Version 3.6.0
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.