Results 1 to 5 of 5

Thread: U.S. consumer spending falls for first time in six months

  1. #1
    Join Date
    Apr 2007
    Posts
    20,861

    Default U.S. consumer spending falls for first time in six months

    U.S. consumer spending falls for first time in six months

    Published: Aug 29, 2014 8:30 a.m. ET

    By
    JeffryBartash
    Reporter

    WASHINGTON (MarketWatch) - Consumer spending fell in July for the first time in six months, as Americans cut back on purchases of new cars and other retail goods, the government reported Friday. The drop in spending was a bit of a surprise: economists polled by MarketWatch had predicted a seasonally adjusted 0.1% increase. The reduction in spending last month suggests the economy won't match the second-quarter growth rate of 4.2% unless outlays rise much faster in August and September. July is the first month of the third quarter.

    The growth in incomes, meanwhile, slowed to 0.2% pace in July from 0.5% in each of the prior two months. It was the smallest gain since December and also below Wall Street expectations. Consumers socked more money away instead of spending it. The savings rate climbed to 5.7% from 5.4% and reached the highest level since the end of 2012. Also, inflation as gauged by the PCE price index rose a scant 0.1%, and the increase over the past 12 months was unchanged at 1.6%. Inflation spiked earlier in the year but has leveled off during the summer. The core PCE rate that excludes food and energy also edged up 0.1%.

    http://www.marketwatch.com/story/us-...ist=beforebell
    ”The trouble with socialism is that you eventually run out of other people's money.” - Margaret Thatcher

  2. #2
    Join Date
    Aug 2009
    Location
    Jefferson Republic
    Posts
    6,492

    Default

    All that so called spending was from tax returns....

  3. #3
    Join Date
    Oct 2010
    Location
    Michigan
    Posts
    751

    Default

    What a Shock!

  4. #4
    Join Date
    Nov 2010
    Location
    Ory-Gone
    Posts
    5,744

    Default

    Same as Brazil eh?
    Semper Fi

    Jesus Christ is Always Faithful


    AMERICANISM
    NOT
    GLOBALISM

    Ban GODWIT

  5. #5
    Join Date
    Nov 2007
    Location
    Seattle
    Posts
    20,318

    Default

    With the skyrocketing co$ts of necessities no wonder purchases drop for "purchases of new cars and other retail goods"

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •