US Consumer Spending

The data was included in the advance fourth quarter gross domestic product report, which showed consumer spending maintaining a solid pace of growth

The personal savings rate, as a percentage of disposable income, fell to 4.4 per cent in April, the lowest level since 2008 in the US, according to the Commerce Department

The rebound in spending could further temper expectations for a sharp slowdown in economic growth in the first quarter

With every trip to the grocery store and gas pump eating away a little more of their paychecks, people have less left over for discretionary purchases

US consumer spending rebounded by a solid 1.3 per cent in October despite inflation

WASHINGTON (Reuters) - U.S. consumer spending increased by the most in seven months in January as the government doled out more pandemic relief money to low-income households and new COVID-19 infections dropped, positioning the economy for faster growth in the first quarter.

Consumers cut back on purchases of goods like new motor vehicles, clothing and footwear

US consumer spending fell 0.4% in November, the first decline since April, as Americans confronted a newly resurgent virus.

US consumers increased their spending by 1.4 per cent in September, a modest gain but far less than the big increases of late spring

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Consumer spending will probably remain weak relative to the past as people avoid activities that require high levels of social interaction for health reasons, Boston Fed President Eric Rosengren said

So deep was the pullback in the spring that even with two months of gains, consumer spending was still down at a record annual rate of 34.6% in the April-June quarter

The increase in consumer spending in February was in line with economists' expectations

The impact of low savings on consumer spending could, however, be temporarily offset by income tax cuts which went into effect in January

Consumer spending could get a lift from sweeping individual income tax cuts approved by the US Congress this week

The US inflation remained benign last month

Personal consumption expenditures price index excluding food and energy edged up 0.1% in July

Trump is targeting infrastructure spending, tax cuts, deregulation to achieve faster economic growth

Consumer spending saw smallest gain since August; followed an unrevised 0.2% rise in January

The increase was in line with economists' expectations