Consumer Spending in U.S. Probably Rose by Most in Five Months |
| Bloomberg - Aug 30, 2012 |
Consumer spending in the U.S. probably climbed in July by the most in five months, economists said before a report today.
Household purchases, which account for about 70 percent of the economy, rose 0.5 percent last month after being little changed in June, according to the median estimate of 76 economists surveyed by Bloomberg.
Rising purchases suggest consumers bounced back last month after scrimping in June and May, which may set the stage for faster third-quarter economic growth. Even so, costlier gasoline and a jobless rate that has exceeded 8 percent since early 2009 threaten to limit spending gains in the second half of 2012.
“Households spent a little bit more in July, which is encouraging given that over the previous few months spending pretty much stagnated,” said Paul Dales, senior U.S. economist at Capital Economics Ltd. in London. “If we jump forward, I get a bit worried again. I don’t really expect there to be big improvements in household spending in the next few months.”
Read Full Article from Bloomberg
- Posted: 2012-08-30 13:15:55
| More Stock Investor Place Top Stories |
 |
|
|
|
| Stock Investor Place Top Stories Archive |
|
|
|
