August 30, 2013 |
WASHINGTON -- Consumers opened their wallets less last month as their income growth slowed, the government said Friday, raising doubts about a significant pickup in the economic recovery in the second half of the year. Consumer spending rose 0.1% in July after a upwardly revised 0.6% increase the previous month, the Commerce Department said. Personal income was up 0.1% as well, compared with a 0.3% rise in June. Analysts had expected consumer spending to increase by 0.3% in July.
June 27, 2011
For the first time in a year, Americans have stopped spending more. Consumer spending failed to budge from April to May, evidence that high gasoline prices and unemployment are squeezing household budgets. When adjusted for inflation, spending dropped 0.1% last month, the Commerce Department reported Monday. April's consumer spending figures were revised to show a similar decline when adjusting for inflation. It marked the first two-month decline in inflation-adjusted spending since April 2009.
August 31, 2010 |
The savings rate for U.S. households fell in July to the lowest level in three months as spending outpaced income, the Commerce Department estimated Monday. The savings rate fell to 5.9% from 6.2% in June, which had been the highest level in a year. Consumer spending rose 0.4% in July while personal income increased 0.2%. Federal Reserve Chairman Ben S. Bernanke singled out the higher savings rate as a key factor in slower-than-expected economic growth for the second quarter.
January 31, 2014 |
WASHINGTON - Consumers opened their wallets more than expected in December even though their incomes failed to grow, but their confidence slipped in January amid concerns about whether the recent upturn in economic momentum can be sustained. Spending rose 0.4% in December after an upwardly revised 0.6% increase the previous month, the Commerce Department reported Friday. Economists had projected only a 0.2% rise for December. Consumers spent more even though personal income was flat in December, a worrisome sign for future activity.
September 27, 2013 |
WASHINGTON -- Americans' incomes rose the most since February last month, helping increase the pace of consumer spending and providing a positive sign for economic growth this fall. Personal income increased 0.4% in August compared with an upwardly revised 0.2% the previous month, the Commerce Department said Friday. Consumer spending rose 0.2% in August compared with a 0.1% rise in July. The income growth was in line with analyst expectations; consumer spending was slightly below forecasts of a 0.3% increase.
June 29, 2012 |
The economic recovery is looking increasingly dicey, as consumer spending and confidence both slid to their lowest levels of the year amid tumbling gas prices and a still-grim jobs forecast. Americans - especially wealthier ones - are feeling pessimistic and cautious this month. An index of sentiment from Thomson Reuters and the University of Michigan slipped to 73.2 from 79.3 in May, marking its first decline in 10 months and reaching its lowest level since December.
May 27, 2011 |
Consumer spending rose by the smallest amount in three months during April, government data showed Friday, in a further sign of erosion in spending momentum due to higher prices at the gas pump. Consumer spending increased 0.4% last month, the Commerce Department estimated. Meanwhile, personal income rose 0.4% in April. Income has risen for seven straight months. When adjusted for inflation, the increases in April were even more modest. Adjusted after-tax income was flat in April for the second straight month, and spending increased 0.1% for the second straight month.
March 30, 2010 |
Consumer spending in the U.S. rose in February for a fifth consecutive month, a rebound that will require gains in employment in order to be sustained. The 0.3% increase in purchases matched the median forecast of economists surveyed by Bloomberg News and followed a 0.4% advance in January, Commerce Department figures showed Monday. Incomes were unchanged, falling short of expectations as winter storms hurt hiring and hours worked. "Considering the circumstances, this is a fine performance with the job market still not strong," said Michael Moran, chief economist at Daiwa Securities America Inc. in New York.
March 28, 2011 |
U.S. consumers increased spending for an eighth straight month in February, but much of the gain went to cover rising food and energy costs, providing only a modest lift to the economy. Although the report from the Commerce Department on Monday was the latest to suggest that the rising cost of living would dent growth in the first quarter, the recovery from the worst recession since the 1930s remains intact. Personal spending rose 0.7% in February, before adjusting for inflation, after rising 0.3% in January.
December 23, 2013 |
The Commerce Department reported Monday that consumer spending rose to its highest level since June, another late-year sign of renewed strength in the U.S. economy. Consumer spending rose 0.5% last month, after increasing a revised 0.4% in October, according to figures released Monday by the Commerce Department. The agency also reported that consumers' income rose 0.2% in November, an improvement from a 0.1% decline the month before. A more detailed breakdown of income showed that wages and salaries rose by 0.4%, reflecting steady job growth in the private sector.