Consumer Spending Up In August
At the same time, income through wages barely rose, however – in fact, after taking into account inflation, incomes fell 0.3 percent in August.
Spending on nondurable goods rose by 1.7 percent in August; the rise in spending can be attributed to higher gas prices. The price of gas rose 28.2 cents per gallon in August.
Consumer spending amounts to 70 percent of the U.S.’s economic activities.