U.S. consumer spending rose marginally in September while wages were unchanged, ...
WASHINGTON - U.S. consumer spending rose marginally in September while wages were unchanged, which could cast doubts on consumers’ ability to continue driving the economy amid a deepening slump in business investment.
Data for August was revised up to show consumer spending climbing 0.2% instead of the previously reported 0.1% rise. Economists polled by Reuters had forecast consumer spending would advance 0.2% last month. The economy grew at a 1.9% rate in the third quarter after expanding at a 2.0% pace in the April-June period.
Inflation was tame in September. Consumer prices as measured by the personal consumption expenditures price index were unchanged for a second straight month in September as the cost of energy goods and services dropped 1.3%.
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