Consumer Spending Rises Strongly in September [View all]
Consumer spending rises strongly in September
WASHINGTON | Mon Oct 29, 2012 8:50am EDT
(Reuters) - Consumer spending rose solidly in September as households stepped up purchases on automobiles and a range of other goods, setting up a firmer base for consumption this quarter.
The Commerce Department said on Monday consumer spending increased 0.8 percent after a unrevised 0.5 percent gain in August.
Economists polled by Reuters had expected spending, which accounts for about 70 percent of U.S. economic activity to increase 0.6 percent in September.