A shopper organizes his cash before paying for merchandise at a Best Buy Co. store in Peoria, Illinois, U.S., on Friday, Nov. 23, 2012. (Photo: Daniel Acker/Bloomberg/Getty)
The Commerce Department said on Monday that consumer spending Consumer spending increased 0.5% last month, beating expectations for a rise of 0.4%. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, slowed last quarter and increases this month after a downwardly revised 0.1% decline in August.
Personal income increased 0.3%. That missed the 0.4% estimate.
The report comes before the Federal Reserve Open Markets Committee meets for two days on Tuesday. While the U.S. central bank is not expected to raise rates, it is expected to increase borrowing costs in December.
The most damning journalistic sin committed by the media during the era of Russia collusion…
The first ecological study finds mask mandates were not effective at slowing the spread of…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…
Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…
Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…
This website uses cookies.