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LATEST US DATA

Consumer spending barely increases in August

Data reflects effects of Hurricane Harvey which weighed on car sales; annual inflation rises at slowest pace since late 2015

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The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of US economic activity, edged up 0.1 per cent last month. This was in line with economists' expectations.

Washington

US consumer spending barely rose in August likely as Hurricane Harvey weighed on car sales and annual inflation increased at its slowest pace since late 2015, pointing to moderation in economic growth in the third quarter.

The Commerce Department said on Friday consumer

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