Arkansas Trucking Association

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Consumer Spending and Confidence Climb

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Consumer spending in the U.S. grew in May as Americans used gains in income to shore up household finances.

Purchases, which account for about 70% of the economy, climbed 0.2% after being little changed in April, Commerce Department figures showed. Incomes advanced 0.4%, and the saving rate increased to an eight-month high.

Projections for spending ranged from gains of 0.1% to 0.6%. The previous month’s reading was initially reported as a drop of 0.1%.

And with consumer confidence rising in June, the trend should continue. Consumer confidence index increased to 82.5 from 81.9 in May. The median projection in a Bloomberg News survey of economists called for a reading of 81.2.

Expectations for the year were little changed as most households said wages probably will rise less than inflation, leading to lower living standards, Bloomberg reported.

 

photo credit: 401(K) 2013 via photopin cc

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Arkansas Trucking Association
PO Box 3476 (72203)
1401 West Capitol Ave.
Suite 185
Little Rock, AR 72201

(501) 372-3462 | Phone
(501) 376-1810 | Fax

Our Mission

  • PROTECT the collective interests of trucking companies in the political and regulatory arenas.
  • PROMOTE the dynamics of trucking so that people have a better understanding of the link between America's primary freight delivery system and the standard of living they enjoy.
  • SERVE our members to help them to grow their business and their profits
You are here: Home News In Brief Consumer Spending and Confidence Climb