Home » World News » US consumers spend less than forecast in July

US consumers spend less than forecast in July

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 540 other followers

Tweet!

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

US consumers barely increased their spending in July, as workers saw their salaries shrink because of government spending cuts.

Spending increased by 0.1%, according to the US Commerce Department.

Big-ticket items, such as cars and fridges, saw the biggest declines.

Consumption makes up 70% of the economy, and the run-up to the new school year, starting in July, is typically the second-biggest shopping period of the year.

Large retailers such as Wal-Mart, Macy’s and Kohl’s have warned in recent earnings reports of sluggish consumer demand, as US job growth continues to lag and wages stagnate.

Further uncertainty over the timeline of the US Federal Reserve‘s decision to slow down its policy of propping up the US economy by keeping rates low has led to stock market volatility and increasing mortgage rates.

US stocks are set to end their worst month in a year later on Friday.

Separately, a final reading of US consumer sentiment data showed a drop, after a four-year high in July.

The August reading fell to 82.1 from July’s 85.1, as concerns over the crisis in Syria led to further worries about oil and gas prices in the autumn.

The declines come just a day after US second-quarter GDP was revised upwards to 2.5% from 1.7%, surprising many economists._69554780_rupee.2.g

Advertisements

21 Comments

  1. Suffer from kidney disease? improve your kidney health naturally

  2. don varden says:

    don varden

    US consumers spend less than forecast in July | Global economy & finance journal

  3. It’s enormous that you are getting ideas from this post as well as from our dialogue made at this time.

  4. phone sex says:

    Developing What If Scenarios

    I think this site contains some really fantastic information for everyone :D.

  5. homepage says:

    Rational Planning Techniques

    I am incessantly thought about this, thank you for putting up.

  6. that “fits you” is the one to

    use. you have probably heard the expression ‘there’s no such thing as a free ride’ when it comes to popularity, or fame, this is not strictly true. many a celebrity have got there with zero talent, and even less hard work.

  7. film, freedom writers. in the film, the

    teacher gave permission for her at-risk students to share their life story – and look at what happened. they went from “separate tribes” and “on the outside looking in” – to a sense of “connection.”there were different ethnicities in that class,

  8. send your fresh article straight to ezinearticles

    for distribution. now article marketing used to be big but since google have taken a bit of a dislike to article sites i am not sure how powerful article marketing is; however, it can still be good for you if other

  9. Chat says:

    Concurrent Assignments Meet

    I cling on to listening to the rumor speak about receiving free online grant applications so I have been looking around for the most excellent site to get one. Could you advise me please, where could i acquire some?

  10. Can I just say what a comfort to uncover someone that really understands what they’re talking about on the net. You definitely realize how to bring an issue to light and make it important. More and more people ought to look at this and understand this side of the story. It’s surprising you are not more popular since you definitely have the gift.

  11. The actual reason why noone is discussing about watch and the actions you should create right now.

  12. This is why none of us is speaking of watch and because of this the thing that you should create this afternoon.

  13. Maybe You Also Make All of these Mistakes With bag !

  14. Put an end to Complaining , Start Off your own men Crusade Alternatively

  15. Done with all the japan trends? I’m at this website to help you!!

  16. RT @nicoleresendes: The lightening is lighting up my room and I can’t sleep plz relax mother nature
    led grow lights http://icamtech.com

  17. Report of constructive things to do to discover more about women before you are left behind.

  18. Maybe You Also Make These types of Slip-ups With the bag ?

  19. Upcoming watch Ebook Unveil The Best Ways To Dominate The watch Market

  20. The very best solution for men that you should read about as we speak.

  21. Upcoming watch E-book Reveal Tips To Dominate The watch Arena

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: