Ministry announces new regulatory requirements for factories within and outside urban areas    SFDA publishes guidelines for travelers to obtain clearance permit for controlled drugs    11 expats arrested for prostitution in Najran    Saudi Arabia's inflation falls to 5-month low reaching 2.1% in July    SOCPA fellowship opens for professionals worldwide with exam slated for September    Putin praises Trump's peace efforts and floats potential nuclear deal at Alaska summit    Al Nassr arrive in Hong Kong targeting Saudi Super Cup glory    Saudi referee Reem Al-Bishi selected for FIFA Women's Futsal World Cup in Philippines    WHO designates Jeddah and Madinah among 16 "Healthy Cities"    Australia and Vanuatu agree to $328m security and business deal    Red Sea International achieves 44% growth in operating profits for H1 2025 The company announces Q2 2025 financial results    Humanitarian groups call on Israel to end 'weaponization of aid' in Gaza    Melania Trump threatens to sue Hunter Biden for $1bn over Epstein claim    Baby Shark did not plagiarize, South Korea's top court rules    Unreasonable wages, salary delays to trigger violations under Mudad system    PIF raises $9.83 billion in 2024, boosts global ranking to 11th, says Yasir Al-Rumayyan    Visual Arts Commission set to launch Art Bridges Cultural Programs in Scotland, Japan, Korea, and Spain    Saudi Pro League unveils 2025-26 fixture list with blockbuster opening clashes    Donations of living organs rise to 4.9% in Saudi Arabia in 2024    Saudi Arabia exit FIBA Asia Cup after overtime heartbreak against Philippines    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



U.S. Consumer Spending Rises More than Income
Published in Saudi Press Agency on 03 - 03 - 2014

U.S. consumer spending rose more than expected in January as outlays on services recorded their largest increase since late 2001, the government said Monday.
The Commerce Department said that consumer spending increased 0.4 percent after advancing by a revised 0.1 percent in December. Spending was previously reported to have gained 0.4 percent in December.
Economists had forecast consumer spending, which accounts for more than two-thirds of U.S. economic activity, edging up 0.1 percent in January.
January's increase in spending was driven by a 0.9 percent jump in services – the biggest gain since October 2001 – likely reflecting an increase in demand for utilities as Americans tried to keep warm during an unusually cold spell.
With households spending more on utilities, outlays on goods fell 0.6 percent in January.
Despite the services-driven rise in spending, inflation pressures remained muted.
A price index for consumer spending rose 0.1 percent after increasing 0.2 percent in December. Over the past 12 months, prices rose 1.2 percent, compared to an advance of 1.1 percent in December.
Excluding food and energy, the price index for consumer spending edged up 0.1 percent, rising by the same margin for a seventh straight month. Core prices were up 1.1 percent from a year ago, after rising 1.2 percent in December.
Both inflation measures remain stuck below the Federal Reserve's (Fed's) 2 percent target.
When adjusted for inflation, consumer spending rose 0.3 percent after falling 0.1 percent in December. The rise in so-called real spending could boost first-quarter gross domestic product.
Income rose 0.3 percent in January after being flat the prior month. The expiration of jobless benefits for more than one million long-term unemployed people at the end of December had curbed income growth.
Income at the disposal of households after adjusting for inflation rose 0.3 percent in January after falling 0.2 percent the previous month.
With spending a touch above income growth, the saving rate, the percentage of disposable income households are socking away, was unchanged at 4.3 percent in January. However, actual saving fell to its lowest level since March.


Clic here to read the story from its source.