us consumer spending flat despite income gains
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US consumer spending flat despite income gains

Arab Today, arab today

Arab Today, arab today US consumer spending flat despite income gains

Washington - AFP

US consumers spent a little bit less in June than in May as incomes rose 0.5 percent, official data showed Tuesday, highlighting tepid consumption leading the economy's slowdown. The Commerce Department reported spending was essentially flat last month, falling by $1.3 billion, or less than 0.1 percent. Spending fell 0.1 percent the previous month, according to the department's annual revisions. Personal income surged 0.5 percent higher in June, the second straight month of growth. Disposable personal income rose 0.4 percent. "With consumer spending still representing a share close to 70 percent of GDP, today's report does not look positive for Q3 growth," Nomura analysts said. Americans have been cautious about spending amid high unemployment and a depressed housing market as concerns mount about the US economy's health in the face of the eurozone debt crisis, slowing growth in China and looming US tax hikes and spending cuts at year-end. A fall in consumer spending was the main brake on growth in the second quarter. Last Friday the government reported gross domestic product growth slowed to 1.5 percent in the April-June period from 2.0 percent in the first quarter. Prices remained tame. The personal consumption expenditure price index, a strong indicator of the inflationary trend, edged up 0.1 percent in June after a 0.2 percent decline in May. Excluding food and energy prices, the PCE price index rose 0.2 percent, after inching up 0.1 percent the prior month. On a 12-month basis, price increases were the same for a second consecutive month: PCE rose 1.5 percent and core PCE was up 1.8 percent.

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*

us consumer spending flat despite income gains us consumer spending flat despite income gains

 



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*

us consumer spending flat despite income gains us consumer spending flat despite income gains

 



GMT 13:38 2018 Thursday ,13 December

Maduro says meeting with Putin most useful in his career

GMT 02:04 2017 Sunday ,22 October

June22nd-July23rd

GMT 17:35 2017 Tuesday ,18 April

Saudi air force helicopter crashes, killing 12

GMT 22:10 2017 Monday ,07 August

26 killed in Punjab rainstorm

GMT 07:45 2017 Saturday ,19 August

Sudanese and Ethiopian Ministers discuss cooperation

GMT 20:11 2017 Friday ,20 January

Russia, Syria ink agreement to expand Tartus port

GMT 10:04 2017 Friday ,06 October

Rowida Atteiya bets on success of her new song

GMT 08:42 2017 Thursday ,27 April

HM King hails Spanish ties

GMT 09:05 2018 Sunday ,21 January

'Outskirts' Dawn' outstanding achievement

GMT 21:53 2015 Thursday ,03 September

Israel recovers ancient sarcophagus hidden by contractors

GMT 11:18 2018 Monday ,01 January

Maiduguri suicide attacks condemned

GMT 02:29 2016 Wednesday ,16 November

Iraqi Forces advance in Mosul offensive against Daesh
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

Maintained 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 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday