Print

Americans boost spending as incomes grow

By The Associated Press
Posted 8:49AM on Wednesday 24th November 2010 ( 14 years ago )
WASHINGTON - Americans earned more and spent more last month, a hopeful sign for the economy ahead of the holiday buying season.

The government says consumers boosted their spending 0.4 percent in October. That was up from a 0.3 percent increase in September.

People showed a slightly bigger appetite to spend because their incomes rose 0.5 percent, reflecting a slowly healing jobs market. Incomes didn't grow at all the month before. The increases in both income and spending last month were the most since August.

Even with the pickup, consumers are still shying away from the type of spending needed to dramatically lower the 9.6 unemployment rate.

http://accesswdun.com/article/2010/11/234035

© Copyright 2015 AccessNorthGa.com All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.