Arab Today, arab today us consumer income spending up solidly in august
Last Updated : GMT 22:53:23
Arab Today, arab today
Arab Today, arab today

US consumer income, spending up solidly in August

Arab Today, arab today

Arab Today, arab today US consumer income, spending up solidly in August

US personal consumption expenditures (PCE)
Washington - AFP

US consumer spending grew solidly in August despite stock market turbulence which some worried would spook shoppers, while prices remained subdued, Commerce Department data showed Monday.

Income growth was firm, suggesting a steady rise in wages that would support much-awaited policy tightening by the Federal Reserve.

Personal consumption expenditures (PCE) rose 0.4 percent in August, the same monthly gain as July, but year-over-year were up a modest 3.2 percent.

Incomes grew 0.3 percent in the month, compared to 0.5 percent in July, but disposable income was up 0.4 percent, holding the same pace since the beginning of the year.

Ian Shepherdson of Pantheon Macroeconomics said the new data added more evidence for US economic growth picking up strength.

"Robust real after-tax income growth is propelling spending," he said.

Inflation, though, was weak: the PCE price index, the key measure that the Fed watches to guide policy, was up just 0.3 percent from a year ago. And when volatile food and energy are stripped out, it was up 1.3 percent yea-on-year, well below the Fed's target rate of 2.0 percent.

The Federal Reserve has repeatedly said it wants to see more indications of tightening in the labor market -- including both rising wages and incomes -- and prices before it begins moving interest rates higher toward a more normal policy stance.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us consumer income spending up solidly in august Arab Today, arab today us consumer income spending up solidly in august

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us consumer income spending up solidly in august Arab Today, arab today us consumer income spending up solidly in august

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday