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LATEST US DATA

Consumer spending cools in Dec while savings hit three-year high

Higher savings, rising home prices should help soften blow from stocks sell-off, drive spending in early 2016
Tuesday, February 2, 2016 - 05:50
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Moderate consumer spending, weak export growth and efforts by businesses to reduce unsold merchandise piled up in warehouses helped restrict economic growth to a 0.7 per cent pace in Q4.

Washington

US consumer spending was unchanged in December as households cut back on purchases of cars and unseasonably mild weather weighed on demand for utilities, but a jump in savings to a three-year high suggested there is enough muscle to boost consumption in the months ahead.