- Analytics
- News and Tools
- Market News
- U.S. consumer spending up 0.1 percent in August
U.S. consumer spending up 0.1 percent in August
The Commerce
Department reported on Friday that consumer spending in the U.S. edged up 0.1
percent m-o-m in August, following a revised 0.5 percent m-o-m gain in July (originally
a 0.6 percent m-o-m rise). Economists had forecast the reading to show a 0.3
percent m-o-m growth.
Meanwhile,
consumer income rose 0.4 percent m-o-m in August, following an unrevised 0.1
percent m-o-m increase in the previous month. Economists had forecast a 0.4
percent m-o-m advance.
The August increase
in personal income primarily reflected gains in wages and salaries, nonfarm
proprietors’ income, and personal current transfer receipts that were partially
offset by a decrease in personal interest income.
The personal
consumption expenditures (PCE) price index, excluding the volatile categories
of food and energy, which is the Fed's preferred inflation measure, went up 0.1
percent m-o-m in August after a 0.2 percent m-o-m increase in the prior month.
Economists had projected the index would increase 0.2 percent m-o-m.
In the 12 months
through August, the core PCE increased 1.8 percent, following a revised 1.7 percent
growth in the 12 months through July (originally an advance of 1.6 percent). Economists
had forecast a gain of 1.8 percent y-o-y.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
