Sept consumer spending in first drop in 8 months

Slowdown likely to be short-lived; Q3 wages in highest jump in 6 years

Sat, Nov 01, 2014 - 5:50 AM

HAPPY HOLIDAYS: With pump prices at a four-year low and better wage growth, consumer spending is likely to rebound in the end-year holiday period.

PHOTO: AFP

Washington

US consumer spending in September fell for the first time in eight months, suggesting that the economy lost some momentum heading into the fourth quarter.

The slowdown in consumer spending, however, is likely to be temporary, as other data on Friday showed wages in the...

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