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Personal Spending Falls in September
Consumer personal spending dropped in September for the first time in five months, the Commerce Department said Friday.
The 0.5% spending decline followed a 1.4% gain in August.
Personal incomes did not change during September, Commerce said.
The drop in spending matched economists’ forecasts, Bloomberg reported.
An increase in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.
By Transport Topics
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