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U.S. Consumer Spending Flat in August

Submitted by jhartgen@abi.org on

Personal consumption was unchanged in August from a month earlier, the Commerce Department said on Friday, the Wall Street Journal reported on Friday. That was the weakest reading since March. Consumer spending has been the main driver of economic growth in recent years. During the second quarter, it advanced at the fastest rate since the end of 2014. Americans also saved a little more in August, Friday’s report showed. The personal saving rate rose to 5.7 percent last month from 5.6 percent in July, though it remains below levels seen at the start of 2016.