American consumer spending rose 1.3% in August — savings rate fell; Weekly jobless claims rose
Oct 1st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
American consumer spending rose 1.3% in August, the biggest rise since June 2005, triggered by back-to-school spending and the government car-rebate program. Income gains were a just 0.2%.The savings rate fell. Separately, initial weekly claims for jobless benefits rose 17,000 to 551,000 last week. Continuing claims -- those covering workers for more than one week -- fell by 70,000 to 6.1 million in the week ended Sept. 19th.