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 Gain Smallest in 8 Months
Published in Saudi Press Agency on 30 - 10 - 2015

U.S. consumer spending in September posted its smallest gain in eight months as personal income barely rose, the government reported Friday, indicating that shoppers grew cautious at the end of the third quarter, cooling domestic demand after recent strong increases.
The Commerce Department said consumer spending rose 0.1 percent, the weakest performance since spending actually declined in January. Spending rose 0.4 percent in August. Much of the September slowdown reflected a drop in energy prices, which resulting in a 1.2 percent decline in spending on non-durable goods such as gasoline. Spending on durable goods, a category that includes cars, rose 0.8 percent last month. Spending on services rose 0.4 percent.
Income growth rose only 0.1 percent in September, the smallest gain in four months, after advancing 0.4 percent in August. Wages and salaries were flat last month following two consecutive months of strong gains. The savings rate rose slightly to 4.8 percent of after-tax income last month, compared to 4.7 percent in August.
An inflation index for consumer spending fell 0.1 percent last month, the first decline since January, after being flat in August. In the last 12 months, the personal consumption expenditures (PCE) price index rose only 0.2 percent, the smallest increase since April.
Consumer spending is closely watched because it accounts for 70 percent of U.S. economic activity. Spending rose at a strong 3.2 percent annual rate in the third quarter, although gross domestic product (GDP) growth slowed sharply to a 1.5 percent annual rate, mostly due to businesses reducing their inventories. Spending has increased at a rate of more than 3 percent in each of the last two quarters.
Economists forecast that consumer spending will remain on track in the fourth quarter, reflecting further gains in employment that should give households more income to spend. Consumers also are benefiting from declines in energy prices that give them more money to spend on other items.


Clic here to read the story from its source.