Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  October 29, 2012 14:46:37, updated

U.S. - consumer spending in September rose more than expected


According to the U.S. Commerce Department Consumer spending rose in September by 0.8% compared with the August increase of 0.5%, compared with market expectations set for an average increase of 0.6% in the overall estimates range from +0.3 to +0.8 %. Driven by consumer spending, 70% of the whole economy.
After adjustment for inflation, consumer spending rose by 0.4% compared to 0.1% in August.
Adjusted spending on durable goods including cars rose by 1.3% compared with the August increase of 1.5%. Expenditure on other goods, including fuel rose by 0.5%, while spending on services rose by 0.2%.

Revenues grew by 0.4%, which was the most since March this year. Salaries and wages increased by 0.3% compared to 0.1% in August.
Disposable income was flat in September after the August decline by 0.3%.

Savings rate fell to 3.3% from 3.7% in August. September result is the lowest since last November.
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