Friday, October 30, 2015

Personal Spending, Income Miss Expectations

consumer spending, retail, shopping

American consumers edged up their spending in September at the slowest pace since January, suggesting slowing job creation and economic turmoil overseas may be introducing some caution into purchasing habits.
Personal spending, which measures how much Americans paid for everything from sofas to taxi rides, rose 0.1% in September from a month earlier, the Commerce Department said Friday. Consumption climbed 0.4% in August and 0.3% in July.
Personal income, reflecting Americans' pretax earnings from salaries and investments, climbed 0.1% in September. That was the smallest increase since March 2015.  Read more