Consumer spending in US beats forecast as petrol prices drop
More shopping for clothing, electronics and cars with rising employment and confidence
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Washington
CONSUMER spending rose more than forecast in November as incomes increased and petrol prices dropped, indicating the biggest part of the US economy is strengthening as the year ends.
Household purchases climbed 0.6 per cent, the most in three months, after a 0.3 per cent October gain that was larger than previously estimated, Commerce Department figures showed on Tuesday in Washington. The median forecast of 76 economists in a Bloomberg survey called for a 0.5 per cent rise. Incomes advanced 0.4 per cent, the most since June, and the savings rate dropped.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
