Saturday, 28 September 2013

US consumer spending rises, eurozone economic confidence improves

US economic data on Friday were mixed.

Consumer spending rose 0.3 percent in August, the fourth consecutive rise, while income rose 0.4 percent, the most in six months.

However, the Thomson Reuters/University of Michigan’s index of consumer sentiment fell to 77.5 in September, the lowest level in five months, from 82.1 in August.

In the euro area, the European Commission's economic sentiment indicator rose to 96.9 in September from 95.3 in August, its fifth consecutive increase.

Meanwhile, inflation remained subdued, with the rate in Germany staying unchanged at 1.6 percent in September.

Inflation in Japan, though, rose to the fastest pace in nearly five years in August. Consumer prices excluding fresh food rose 0.8 percent from a year earlier, mainly due to higher energy prices resulting from a weaker yen.

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