Consumer spending rises more than forecast in August
Washington
HOUSEHOLD spending climbed more than forecast in August and incomes also rose as the biggest part of the US economy continued to power past a global slowdown.
Consumer purchases climbed 0.4 per cent, matching the gain in July that was larger than previously reported, Commerce Department figures showed on Monday. The median forecast of economists in a Bloomberg survey called for a 0.3 per cent August increase. Incomes advanced 0.3 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Middle East tensions threaten global progress on inflation: World Bank
Heatstroke kills 30 in Thailand this year as South-east Asia bakes
Thailand to appoint former energy executive Pichai as finance minister, sources say
Consumer gulf widens as demand for premium and budget foods grows
‘To the Future’: Saudi Arabia spends big to become an AI superpower
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons