Web Sify
Follow us on

News Summary: US consumers boost spending 0.2 pct.

Source : AP
Last Updated: Mon, Apr 29, 2013 19:15 hrs

: Consumer spending and income both rose 0.2 percent last month, the Commerce Department said Monday.

CONSUMER RESILIENCE: The gains suggest modest wage growth is helping offset an increase in Social Security taxes that took effect on Jan. 1. On Friday, the government said consumer spending rose from January through March at the fastest pace in more than two years.

SLOWER RETAIL: Still, consumers may be starting to feel the impact of the tax increase, based on other reports. Sales at retail stores and restaurants fell in March by the most in nine months.

More from Sify:
blog comments powered by Disqus
  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
talking point on sify finance