U.S. consumer spending -- with disposable income flat -- fell 0.2 percent in October, the Commerce Department said Friday. Consumers spent $20.2 billion less than they did in the previous month as incomes rose by $400 million, a gain of less than 0.1 percent, and disposable income increased by $800 million, also less than 0.1 percent. The Bureau of Economic Analysis said Hurricane Sandy disrupted jobs, which caused a dip in payroll figures. "The October decrease in private wages and salaries reflected work interruptions caused by Hurricane Sandy, which reduced wages and salaries by $18.2 billion at an annual rate," the bureau said. Payrolls at goods-producing companies fell by $3.6 billion while service-oriented firms experienced a $13.5 billion drop in payroll expenses. Wages and salaries rose in the public sector by $100 million, a fraction of the $1.7 billion gain in the previous month. By comparison, incomes rose by 0.4 percent in September, or by $47.8 billion. Consequently, spending in September rose 0.8 percent, or by $84 billion, the bureau said, releasing revised figures.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor