Sept consumer spending in first drop in 8 months

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 third quarter recording their largest increase in more than six years. Consumer sentiment also rose in October to its highest level in more than seven years.

Consumer spending declined 0.2 per cent in September after a 0.5 per cent increase in August, as demand for goods tumbled and d…