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.