September was apparently a good time for consumers in the US and UK to spend.
A report on Monday showed that US consumer spending rose 0.8 percent in September while income rose 0.4 percent. After adjusting for inflation, spending rose 0.4 percent but disposable income was little changed.
In the UK, a report on Monday showed that consumer credit rose by 1.199 billion pounds in September, the strongest rise since February 2008. Mortgage approvals rose to 50,024 in September from 47,921 in August.
Japanese consumers pulled back in September though. A report today showed that although Japan's jobless rate stood unchanged at 4.2 per cent in September, household spending fell 0.9 per cent in September from the previous year after having risen 1.8 percent in August.