Sandy disrupts consumer spending surge

By Los Angeles Times (MCT) By Jim Puzzanghera (McClatchy/Tribune - MCT Information Services)

Created: Friday, November 30, 2012 8:16 p.m. CDT

WASHINGTON (MCT) – Consumer spending dipped in October, the first decline in 5 months, as Superstorm Sandy took a big bite out of paychecks in the Northeast.

Personal consumption expenditures fell by $20.2 billion, or 0.2 percent, in October compared with September, the Commerce Department said Friday. Income growth was basically flat in October, increasing $800 million, or less than 0.1 percent.

Both figures came in below analyst expectations of about a 0.1 percent rise in spending and a 0.2 percent increase in personal income.

Story Archived

Only the most recent 7 days of articles are available for free. For articles older than 7 days there is a small fee for retrieval from our archive. If you are a registered member of the site, the content is free just by signing in below.

Please sign in with your Comment Member ID and password.

Did you purchase access?

Purchase Access

To allow for flexibility, we offer a variety of options for purchasing articles:

Having trouble?

If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at archivedesk@shawmedia.com

» Business Bits

Sauk Valley Bank opens new branch

STERLING – Sauk Valley Bank newest branch is open at 3319 E. Lincolnway.

» Reciprocity

Drill

It was easy to get distracted by the performance of it all. The active shooter drill held by Sterling and County Police last week at the high school. The scenario; two armed shooters in the school killing students and teachers and the police and medical technician's response. It's an unfortunate drill, but a necessary one. In the hallways a Halloween mentality took over, especially when the ketchup-blood concoction was applied on the students. Small talk and "what I'm going to do" plans were passed around freely between laughs and odors of the sickly sweet blood stand-in. It was an odd contrast between real and imaginary, one I'm sure psychologists will explain to be a type of coping mechanism. I took these "portraits" of the injured and de

Sandy disrupts consumer spending surge

Blogs

Sauk Valley Bank opens new branch

Drill

Reader Poll

The federal government announced that it monitors the telephone records of millions of Americans as it tries to detect terrorist plots. Do you support this program?

Member ID:
Password: