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Article: US consumer spending and incomes increase

Article from:
Evening News - Scotland
Article date:
May 1, 2001
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CONSUMER spending, which accounts for two thirds of US growth, rose by 0.3 per cent in the last month while incomes grew 0.5 per cent, according to the latest Commerce Department figures.

Revised figures for February showed spending was slightly weaker than the government had previously estimated, but income growth was revised up to 0.5 per cent, slightly stronger than previously reported.

Although the figures do not show strong growth, they also give little indication of a recession. However, spending on durable goods, expected to last more than three years, like cars and household appliances, fell by 1.1 per cent - an indication that people are delaying the purchase of non-essential ...

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