Boost for Fed as consumer spending offsets business gloom : independent

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Boost for Fed as consumer spending offsets business gloom

Boost for Fed as consumer spending offsets business gloom

US consumer spending increased for a fourth straight month in July amid strong demand for cars, pointing to a pick-up in economic growth that could allow the Federal Reserve to raise interest rates this year.US consumer spending increased for a fourth straight month in July amid strong demand for cars, pointing to a pick-up in economic growth that could allow the Federal Reserve to raise interest rates this year.US consumer spending increased for a fourth straight month in July amid strong demand for cars, pointing to a pick-up in economic growth that could allow the Federal Reserve to raise interest rates this year.


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While you were sleeping: UPDATED Solid US consumer spending boosts stocks

While you were sleeping: UPDATED Solid US consumer spending boosts stocks

Wall Street strengthened, edging closer to fresh record highs, as a report on US consumer spending underpinned Federal Reserve officials' comments that an interest rate hike might be warranted soon.A Commerce Department report showed consumer spending, a key driver of the US economy, increased 0.3% in July, following a 0.5% gain in June."There are good indicators that incomes are improving and consumption is going to continue to stay strong, which points to a resilient US economy," Brian Jacobsen, chief portfolio strategist with Wells Fargo Funds Management, told Bloomberg.


let alone dailytimes

US consumer spending firm, inflation slows in July

US consumer spending firm, inflation slows in July

WASHINGTON: US consumers spent at a solid pace in July while the key PCE index of inflation slowed, the Commerce Department reported Monday.Consumer spending rose by 0.3 percent from June, with the gain underpinned mainly by automobile purchases while spending on non-durable goods and services declined.That followed an 0.4 percent gain in June, suggesting the consumer side of economic growth was firm at the start of the third quarter.


in addition businessinsider

US consumer spending posts slower growth in July

US consumer spending posts slower growth in July

WASHINGTON (AP) — American consumers boosted spending at a slower pace in July, while their incomes accelerated slightly.Spending grew 0.3 percent in July following a 0.5 percent increase in June, the Commerce Department reported Monday.The slowdown had been expected given an earlier report that retail sales were flat in July.


in like manner marketwatch

Auto sales help boost consumer spending by 0.3% in July

Auto sales help boost consumer spending by 0.3% in July

Getty Images Consumer spending rose in July.Americans increased spending by 0.3% in July, buying more new cars and trucks and devoting more money to utilities such as cooling their homes.The increase in July matched Wall Street expectations.