Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Americans Spent More In August
WASHINGTON (9/30/13)--Purchases by U.S. consumers increased in August--despite government cutbacks--for a fourth consecutive month. Rising incomes lifted consumer spending, which comprises the largest part of the economy (Bloomberg.com, The Wall Street Journal and The New York Times Sept. 27).
 
Household spending--or personal purchases--climbed 0.3%, after a 0.2% gain in July, the Commerce Department said Friday. 
 
Stock market advances, escalating home values and a better job market are mitigating the effects of this year's payroll tax hikes, providing households the ability to maintain purchases, Bloomberg said. However, spending has shown scant momentum since the second quarter ended, Bloomberg added.
 
Although there were stronger wage advances and respectable growth in personal income last quarter, those figures indicate the holiday shopping season will be--at best--adequate, said Gus Faucher, a senior economist at PNC Financial Services Group Inc. in Pittsburgh.
Other Resources

CUNA National Economic Data
RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
3 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
3 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
5 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
8 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
9 hours ago