WASHINGTON: US consumer spending barely rose in July, but inflation eased considerably, which could give the Federal Reserve room to scale back its aggressive interest rate increases, according to Reuters.
Consumer spending, which accounts for more than two-thirds of US economic activity, edged up 0.1 percent last month, the Commerce Department said on Friday. Data for June was revised slightly down to show outlays advancing 1.0 percent instead of 1.1 percent as previously reported.
Economists polled by Reuters had forecast consumer spending would gain 0.4 percent.
An AI-generated version of the hit US cartoon character SpongeBob SquarePants has recently become the…
CAIRO: Egyptian President Abdel Fattah El-Sisi will meet Saudi Crown Prince and Prime Minister Mohammed…
Women in Wolverhampton who have not attended cervical screening appointments are to be offered home…
Washington: US President Donald Trump has nominated Republican congressman Wesley Hunt, a US Army veteran,…
SINGAPORE: Thailand accused Cambodia on Tuesday of “playing the role of a victim” in a…
MOSCOW: Russia will this week hold tightly-controlled elections in a vote seen by the Kremlin…