Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  October 01, 2010 15:23:36

U.S. - Consumer spending in August rose more than expected

Consumer spending in the U.S. in August, according to official statistics, grew by 0.4%, which exceeded the average market expectations set in this regard to increase by 0.3% in the range of estimates from +0.5 to +02%.
Adjusted effect of inflation on consumer spending rose 0.2%, as in July.

Incomes of Americans in August grew by 0.5%, the largest growth this year. The market allowed for the income growth of 0.3% after the July increase of 0.2%.
Salaries and other income increased by 0.3% over the previous increase of 0.4%.
Transfer payments, which include unemployment benefits, rose by 1.6%.

Disposable income, which are net of income taxes, rose by 0.2% over the same decline a month earlier.
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