US consumer spending stagnates

Eight weeks from the US election, consumer spending in the US barely rose in August, showing the economic expansion is struggling to gain momentum.

28th September, 2012
Consumer spending the US stagnating

Eight weeks from the US election, consumer spending in the US barely rose in August, showing the economic expansion is struggling to gain momentum.

Household purchases in the US rose 0.5 per cent, according to data from the Commerce Department issued in Washington today. The gain mainly reflected a 0.4 per cent jump in prices, the biggest since March 2011, leaving so-called real spending up 0.1 per cent.

A slack job market and rising food and gasoline prices are...

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