Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 31, 2013 15:29:46

U.S. - In December, consumer spending rose along with incomes, but fell short of estimates

Consumer spending in the U.S. in December rose by 0.2% compared with the November strengthening by 0.4%. The market, on average, counted with growth of 0.3% in the overall estimates range from 0 to 0.7%. Growth of spending helped lower fuel prices, decrease the number of unemployed, discounts in the main shopping season of the year and the influx of an exceptional dividend before changing the law on their taxes.

Consumer spending in the U.S., 70% of the total GDP stretch. After adjustment for inflation, spending rose by 0.2% in November, compared to +0.6%. For the entire 4Q revenue rose by 2.2% compared to 1.6% in 3Q.

Expenditure on durable goods in December increased by 1.3% compared to 2.9% in November.

Incomes of Americans in December rose by 2.6%, while market growth allowed for only 0.8%.

Savings rate has risen to a new three-year peak at 6.5% in November, compared to 4.1%. Salaries and wages in December rose by 0.6%.

Disposable incomes rose in December, after adjustment for inflation of 2.8%, which was the most since May 2009. Income after tax grew in Q4 by 6.8%, which was the highest since 2Q08.

Government statistics estimate that the volume of an exceptional dividend paid hurriedly before the end of the year it has reached the level of 26.4 mld.USD along with about 15 other mld.USD different rewards, bonuses or other non-standard rewards. Therefore, it is estimated that revenue in Q1 of this year, a little fall.

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