You are here: Home » International » News » Economy
Business Standard

US consumer spending barely rises 0.1% in August; core inflation retreats

The US inflation remained benign last month

Reuters  |  Washington 

US consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales and annual inflation increased at its slowest pace since late 2015, pointing to the moderation in economic growth in the third quarter. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged up 0.1 percent last month also as unseasonably mild temperatures reduced demand for utilities. That followed an unrevised 0.3 percent increase in July. Last month's gain in consumer spending was in line with economists' ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, September 29 2017. 19:17 IST
RECOMMENDED FOR YOU