US Consumer Spending Increases Solidly in August
U.S. consumer spending increased slightly more than expected in August, keeping the economy on solid ground as the third quarter progressed, while inflation continued to rise at a measured pace.
Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.6% last month after an unrevised 0.5% advance in July, the Commerce Department's Bureau of Economic Analysis said on Friday.
Economists polled by Reuters had forecast consumer spending increasing 0.5% after a previously reported 0.5% gain in July...
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