Consumer Spending Expected to Climb for Quarter

October 20, 2012  by in UnCategorized   

By Aggregated Content in economic news on October 21, 2012 from http://www.dallasnews.com/business/headlines/20121021-consumer-spending-expected-to-be-up-for-quarter.ece

Spending by American consumers probably picked up in the third quarter, helping the world's largest economy overcome a slump in business investment that is holding back expansion.

Gross domestic product rose at a 1.8 percent annual rate after expanding at a 1.3 percent pace the prior quarter, according to the median forecast of 66 economists surveyed by Bloomberg ahead of Commerce Department data Friday.

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