Automobile sales push US consumer spending

 30 Aug 2016 - 0:00

Automobile sales push US consumer spending

 

Cars for sale at a Toyota Scion dealer in Hollywood, California. US consumers spent at a solid pace in July while the key PCE index of inflation slowed, the Commerce Department reported yesterday. Consumer spending rose by 0.3 percent from June, with the gain underpinned mainly by automobile purchases while spending on non-durable goods and services declined.