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Consumer spending falls in September

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Consumer spending falls in September

Result miss analysts’ expectations.

The Commerce Department reported today that consumer spending decreased 0.2% in July.  This follows a revised increase of 0.4% in August.

Analysts had expected an increase of 0.1% in consumer spending.

The decrease in September was the result of a plunge in demand for goods.  Demand for services remained fairly flat.

While September’s results suggest that the economy may be losing a little momentum, it is widely considered to be a temporary lull in the slow but steady US recovery.

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