Consumer spending rises in September
Shoppers spent more in September than they did in August, government data showed Monday, in another sign that the economy appears to be gathering some momentum, feeble though it is. Consumer spending, which accounts for the lion's share of economic activity, rose a higher-than-expected 0. 8 percent last month, the Commerce Department reported, versus an unrevised 0. 5 percent increase in August. Income rose 0. 4 percent in September versus a 0. 1 percent rise in August. Economists polled by Reuters had expected spending to rise 0. 6 percent. With only days left until the presidential election pitting incumbent President Barack Obama against the Republican former governor of Massachusetts Mitt Romney, the economy has been showing signs lately of improving. It remains to be seen whether the more positive data will help Obama win a second term or whether it has come too late to aid his chances.
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Shoppers spent more last month than in August, in another sign that the economy appears to be gathering some momentum, feeble though it is.
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Consumer spending rises in September
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