Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  August 30, 2012 14:59:47

U.S. - Consumer spending rose in July for the first time after 3 months, but less than expected


Americans spending rose in July for the first time after 3 months, namely by 0.4%, which, however, lagged behind the average market estimates set at 0.5% of the overall range of estimates from 0.2 to 0.7% ..

Revenues grew the third consecutive month by 0.3%, which is filled with market expectations.

Savings rate in July declined to 4.2% from 4.3% in June.

Expenditure included in the creation of GDP adjusted for the effect of inflation, rose by 0.4%. In June and May fell by 0.1%.

Estimates in 3Q consumer spending will grow by 2%. Expenditure growth is a good basis for estimates of higher GDP growth.
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