U.S. consumer spending in September recorded its smallest gain in eight months as income barely rose, suggesting some cooling in domestic demand after recent hefty increases.
The Commerce Department said on Friday consumer spending edged up 0.1 percent after an unrevised 0.4 percent rise in August. Consumer spending accounts for more than two-thirds of U.S. economic activity.
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September's consumer spending data was included in Thursday's third-quarter gross domestic product report. Consumer spending rose at a brisk 3.2 percent annual pace in the third quarter, helping to lift GDP growth to a 1.5 percent rate.