America

Consumer Spending Jumped Up In September

Hitting the mall: Spending rose in September. i i

hide captionHitting the mall: Spending rose in September.

Kevork Djansezian/Getty Images
Hitting the mall: Spending rose in September.

Hitting the mall: Spending rose in September.

Kevork Djansezian/Getty Images

Though Hurricane Sandy is the dominant news of the day, there are other stories, including:

"Personal income increased $48.1 billion, or 0.4 percent," in September from August, the Bureau of Economic Analysis says, while "personal consumption expenditures" — consumer spending — rose 0.8 percent.

The Associated Press writes that:

"The spending gains reflect in part rising consumer confidence. The University of Michigan reported Friday that its final consumer sentiment index for October had hit a five-year high. Falling gas prices and a slightly better job market were credited with lifting consumers' outlook.

"With eight days until the election, the economy is being kept afloat by a revitalized consumer and the early stages of a housing recovery. But the nation continues to struggle because businesses are reluctant to invest, and slower global growth has cut demand for American exports."

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: