We went to the bank rather than the store in September
Friday, November 08, 2013 2:53 PM
Consumers were spending less and saving more in September. The U.S. Department of Commerce said household purchases rose 0.2 percent after a 0.3 percent increase in August, Bloomberg reported. The savings rate rose to the highest level of the year as incomes increased 0.5 percent for a second month. Disposable income, or the money left over after taxes, climbed 0.4 percent after adjusting for inflation for a second month. It rose 2 percent over the past 12 months, the best performance this year. The savings rate increased to 4.9 percent from 4.7 percent. Wages and salaries advanced 0.4 percent after increasing 0.5 percent in August.