November 25, 2009
Consumers log stronger-than-expected rebound
Jeannine AversaConsumers got back in the buying mood in October as their incomes grew modestly, an encouraging sign for the budding economic recovery.
The Commerce Department said Wednesday spending rose a brisk 0.7 percent last month, following a pullback in September when spending plunged by 0.6 percent.
It was the best showing since a big 1.3 percent jump in August when the government's now-defunct Cash for Clunkers programs enticed people to buy cars.
Incomes, the fuel for future spending, rose 0.2 percent for the second straight month.
The Associated Press