US consumer spending beats expectations in September

[WASHINGTON] US consumer spending increased more than expected in September, but a resurgence in Covid-19 cases across the nation could slow spending in the fourth quarter.

Consumer spending, which accounts for more than two thirds of US economic activity, rose 1.4 per cent last month after gaining 1 per cent in August, the Commerce Department said on Friday. Economists polled by Reuters had forecast consumer spending rising 1 per cent in September.

REUTERS