Consumer spending in October cools while inflation is picking up
Add BT as a preferred sourceWashington
US consumer spending settled back in October to a still-decent pace after the biggest increase since 2009, as a post-storm surge in auto sales cooled. Incomes remained robust and inflation showed progress toward the Federal Reserve's goal.
Purchases rose 0.3 per cent, matching the median projection in a Bloomberg survey of economists, after a revised 0.9 per cent advance in September, Commerce Department figures showed on Thursday in Washington. Incomes grew 0.4 per cent for a second month, marking the best back-to-back gains since early 2017.
Share with us your feedback on BT's products and services
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
How China’s young workers are securing their future even as AI disrupts job market, triggers pay cuts
As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?
