US consumer spending weakest in eight months, savings jump
Add BT as a preferred source[WASHINGTON] US consumer spending fell in September for the first time in eight months, suggesting the economy lost some momentum heading into the fourth quarter.
The Commerce Department said on Friday consumer spending declined 0.2 per cent last month as demand for goods tumbled and services barely rose. Spending had increased by an unrevised 0.5 per cent in August.
Economists polled by Reuters had expected consumer spending, which accounts for more than two-thirds of US economic activity, to increase 0.1 per cent in September.
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