Salem Radio Network News Thursday, December 8, 2022

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Resilient US consumers spend slightly more in August

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( ) -q-26- UNDATED (Correspondent Jeremy House) “of the year.”

Consumers spent a bit more in August than the previous month.

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TAG: Correspondent Jeremy House reporting. Today’s (FRIDAY’S) figures suggest that the economy is showing some resilience despite sharply rising interest rates, violent swings in the stock market, and high inflation.

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VERBATIM: The Commerce Department says Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell 0.2% in July. The government’s report also showed that an inflation gauge closely monitored by the Federal Reserve rose 0.3% last month, which was faster than July. On Thursday the government confirmed that the economy shrank in the first six months of the year.

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