Economy Watch Weekly: Consumers Earning, Spending More in 3Q
- Dec 05, 2017
Growth in the U.S. economy in the third quarter was accompanied by increases in consumer spending and personal incomes, suggesting a strong end is likely for 2017. U.S. GDP growth was revised up in the third quarter to 3.3 percent, according to the Bureau of Economic Analysis, with the 12 federal reserve districts also reporting positive economic growth in the latest Beige Book. Personal incomes also increased in October, according to the BEA, which means consumes have a bit more money to spend this holiday season. Economy Editor Dees Stribling discusses the latest reports, for the week ending Dec. 1, 2017.