Consumer spending rises strongly in September

WASHINGTON, Mon Oct 29, 2012 – Consumer spending rose solidly in September as households stepped up purchases on automobiles and a range of other goods, setting up a firmer base for consumption this quarter.

The Commerce Department said on Monday consumer spending increased 0.8 percent after a unrevised 0.5 percent gain in August.

Economists polled by Reuters had expected spending, which accounts for about 70 percent of U.S. economic activity to increase 0.6 percent in September.

Leave a Reply

Your email address will not be published. Required fields are marked *