Mexican Media Brands
U.S. Consumers Boost Spending
Spending by American consumers, which grew 0.2% year over year in May, rose 0.5% in June, according to the Dept. of Commerce.
#economics
Share
Spending by American consumers, which grew 0.2% year over year in May, rose 0.5% in June, according to the Dept. of Commerce.
Spending on durable goods climbed 0.8% in June, buoyed by strong auto sales. Consumption of non-durable goods advanced 1.3%, partly because of higher gasoline prices, the Commerce Dept. reports. Consumer spending accounts for 70% of the American economy.
U.S. personal income increased 0.3%. The savings rate slipped to 4.4% from 4.6% in May.
A related measure of prices, excluding food and energy which is the Federal Reserve's preferred inflation gauge rose 1.2% in June from a year earlier. The Fed's inflation target is 2%.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.