Consumer expenditures gained last month, extending the sequence to seven months, though earnings rose at minimum of over a year, a precursor of further spending drop.
Today’s data from the Commerce Department said that consumer spending added 0.4% in September, with Americans purchasing more vehicles and healthcare products.
The July-September growth was 3.5%, showing an easing from a firm 4.2% rate of the second quarter. Last month’s increase in real consumer expenditures signalizes of the right course for growth.