Consumer spending sees robust surge in September
Consumers boosted their spending by 1 percent in September, the biggest gain in eight years. The surge was fueled by robust demand across sectors, especially autos.
The jump in consumer spending was up from a tiny 0.1 percent gain in August and was the best showing since an increase of 1.3 percent in August 2009, the Commerce Department reportedy. Income growth in September rose by 0.4 percent as wages and salaries climbed.