US Consumer Spending Increases

Posted October 28th, 2011 at 10:25 am (UTC-5)
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Consumer spending increased slightly in the United States last month, along with confidence in the economy.

A government report says spending increased by six-tenths of a percent in September, even though incomes increased less than projected.

Consumer spending drives much of the economic activity in the United States, and Friday’s figures followed a report Thursday that said the U.S. economy was growing at a 2.5 percent annual rate.

The spending and growth figures were supported by a private report ((the Reuters/University of Michigan index) showing that consumer confidence in the economy was slightly higher in September – increasing hope that the U.S. economy can avoid another recession and continue a slow recovery.