You are here: Home » News » Industries » Text

Consumer Spending Rose 0.4% in December, The Commerce Department Reported Jan. 31.

放大字体  缩小字体 Release date:2016-11-29  Views:51
Core Tip: TT File Photo Consumer spending rose 0.4% in December, the Commerce Department reported Jan. 31. Commerce also said purchases rose 0.6% in November, a larger figure than was ori

TT File Photo

Consumer spending rose 0.4% in December, the Commerce Department reported Jan. 31.

Commerce also said purchases rose 0.6% in November, a larger figure than was originally announced.

Economists had projected spending would increase 0.2% in December, Bloomberg News reported.

Inflation-adjusted spending on durable goods including cars declined 1.4%, after a 2.1% rise the prior month. Purchases of nondurable goods, including gasoline, increased 1%, Commerce said in its Jan. 31 report.

Full-year spending increased 3.1%, the smallest rise since 2009. Incomes were unchanged, pushing the savings rate to the lowest level in about a year, Bloomberg reported.

Guy LeBas, chief fixed income-strategist at Janney Montgomery Scott, told Bloomberg the increase in consumer spending “is a good sign for sustaining economic growth. Job creation will have to accelerate to sustain the current level of spending.”

 

 
Keyword: durable goods, car
 
[ NewsSearch ]  [ Add to Favorites ]  [ Tell a friend ]  [ Print ]  [ Close the window ]

 
Total0bar [View All]  Related Comments

 
Recommended Graphic
RecommendNews
Click Ranking