Subscribe Register Login

Monday, July 28, 2014, 3:34 a.m.
Top Picks - Mobile App

U.S. consumer spending rises as incomes rebound

By Bloomberg News

This article was published December 21, 2012 at 7:48 a.m.

— Spending by U.S. consumers climbed in November as Americans pushed aside the threat of higher taxes next year, buying gifts for the holidays and making up for shopping lost to superstorm Sandy.

Purchases increased 0.4 percent last month after a 0.1 percent drop in October that was smaller than previously estimated, Commerce Department figures showed Friday in Washington. The gain matched the median forecast of 80 economists surveyed by Bloomberg.

Incomes rebounded after being depressed in October by lost wages because of Sandy.

A better showing by consumers, whose spending makes up 70 percent of the economy, will help sustain the expansion as businesses rein in investment and global buyers temper demand. At the same time, households are set to be challenged by more than $600 billion in tax increases and federal spending cuts due to be put in place for January without action from Congress.

Read tomorrow's Arkansas Democrat-Gazette for full details.

Comments on: U.S. consumer spending rises as incomes rebound

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Salesperson

    russellville, searcy areas need one salesperson (woman/man) ...
    Little Rock, AR

  • Lpns

    Greystone Nursing and Rehab 121 Spring Valley Road, Cabot AR...
    Cabot, AR

  • Instructors

    College of the Ouachitas in Malvern, AR is seeking qualified...
    MALVERN, AR

  • Clericalworker/ secretary job

    clericalworker/secretary Job Opening for Clerical worker/Sec...
    PINE BLUFF, AR

  • Lpns

    Weekend option & M-FApply in person. Premier Health & Rehab...
    NORTH LITTLE ROCK, AR

Search 891 jobs >

Top Picks - Mobile App
Arkansas Online