| Americans spend more and save less in August |
| Last Updated(Beijing Time):2012-09-29 08:10 |
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U.S. consumers spent more last month, partially because of pricier gasoline, the Commerce Department reported Friday.
U.S. personal consumption rose 0.5 percent in August, while personal income increased 0.1 percent, said the department.
Last month, U.S. savings rate, or personal savings as a percentage of disposable personal income, edged down to 3.7 percent from 4.1 percent in July.
Consumption accounted for about 70 percent of U.S. overall economic activities, the main engine of the nation's economic growth.
U.S. second quarter economic growth was revised down to 1.3 percent, the Commerce Department reported on Thursday, lower than the 2 percent in the first quarter. |
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