US consumer spending goes up

Washington, Sep 28 (IANS) US families continued to boost their spending in August as their take-home income posted a solid gain, according to a US Commerce Department report.

US personal consumption expenditure rose 0.3 percent in August, higher than the 0.2 percent growth pace in July, reported Xinhua citing the report issued Friday.

Personal income in the US edged up 0.4 percent in August after rising 0.2 percent in July, said the department.

The US savings rate increased to 4.6 percent in August from 4.5 percent in July.

Consumer spending accounts for 70 percent of the US economic activity.

Real gross domestic product expanded at an annual rate of 2.5 percent in the second quarter this year, boosted by a recovering real estate market and consumer spending.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

Matches

    • Team flag for Sri Lanka vs. Team flag for PakistanPAKSL
      5th ODI
      Sun, Jul 26, 2015
      Hambantota, Sri Lanka
      Pakistan in Sri Lanka ODI ...
      SL won by 165 runs
    • Team flag for Netherlands vs. Team flag for ScotlandSCONED
      Final
      Match abandoned
      Sun, Jul 26, 2015
      Malahide, Dublin, Ireland
      World Twenty20 Qualifier, ...
    • Team flag for Hong Kong vs. Team flag for IrelandIREHK
      3rd Place Play-off
      Match abandoned
      Sun, Jul 26, 2015
      Malahide, Dublin, Ireland
      World Twenty20 Qualifier, ...
  • No live matches are in progress.
    • Team flag for England vs. Team flag for AustraliaAUSENG
      3rd Test
      Wed, Jul 29, 2015
      Birmingham, England
      The Ashes, 2015...
      Upcoming match
    • Team flag for Bangladesh vs. Team flag for South AfricaSABAN
      2nd Test
      Thu, Jul 30, 2015
      Mirpur, Bangladesh
      South Africa in Bangladesh...
      Upcoming match
    • Team flag for Sri Lanka vs. Team flag for PakistanPAKSL
      1st T20I
      Thu, Jul 30, 2015
      Thu, Jul 30, 2015
      Colombo, Sri Lanka
      Pakistan in Sri Lanka T20 ...