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Article: U.S. consumer spending, incomes bounce back in September
- Article from:
- AP Worldstream
- Article date:
- October 31, 2005
- Author:
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JEANNINE AVERSA, AP Economics Writer
AP Worldstream
10-31-2005
Dateline: WASHINGTON
Consumer spending turned higher in September and incomes grew briskly, suggesting the economy is holding up well to the double blows of Hurricanes Katrina and Rita.
The 0.5 percent rise in consumer spending came after spending fell by that amount in August, reflecting the hit from Katrina, the Commerce Department reported Monday.
Americans' incomes, meanwhile, increased by 1.7 percent in September, the largest gain since December 2004, boosted in part by post-hurricane insurance payments. The growth in income marked an improvement from the 0.9 percent plunge posted in August _ a decline that largely reflected ...