Consumers Fuel Faster Economic Growth
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Robust consumer spending on cars,  furniture and food helped the U.S. economy advance faster than  first thought in the third quarter, a government report showed,  while underlying inflation was the tamest in decades.
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After taking a rest in June, the nation's consumers were full of energy last month, boosting their spending by a strong 0.8 percent, a hopeful sign the economy may be emerging from a summer funk.
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The United States is showing signs of faster economic growth, according to reports released on Monday on the Midwest and New York City economies and U.S. personal income.
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WASHINGTON - Consumers, who substantially slowed down their spending in late summer, roared back to life in September, boosting their purchases by 0.6 percent.
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IT investments in Web sites, combined with greater acceptance of online shopping on the part of consumers, will drive the growth.
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WASHINGTON -- Consumers' borrowing grew in January, reflecting an increase in auto loans. The Federal Reserve reported yesterday that consumer credit rose at a 3.2 percent annual rate, up from December's 2.5 percent increase.
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The outlook for the US economy in 2007 has picked up, a survey indicates, thanks to robust consumer spending.
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Robust consumer spending on cars,  furniture and food in the third quarter helped the U.S.   economy advance more quickly than first thought, a government  report showed on Tuesday, while underlying inflation was the  tamest in decades.
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The country&#39;s economy has accelerated, carried by strong household and government spending, to reach its fastest annual pace in nearly four years, official figures show.
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Consumers increased their borrowing in December at the slowest pace in eight months, additional evidence that economic activity was slowing significantly at the end of last year. For all of 2007, consumer credit rose at the fastest clip in three years.
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WASHINGTON -- The economy snapped out of a sluggish spell and grew at a faster-than-expected 3.5 percent pace in the final quarter of last year as consumers ratcheted up spending despite a painful housing slump.
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The national economy grew at a solid rate in the last three months, boosted by a rebound in consumer spending and another strong quarter of business investment, the Commerce Department reported yesterday.
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The economy -- helped out by more brisk consumer and business spending -- grew at an annual rate of 3.9 percent in the third quarter, a performance that was stronger than previously thought.
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The economy grew at a faster than expected annual pace of 3.0 percent during the first quarter of 2007, official data showed on Friday.
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U.S. consumers spent more than expected in January and manufacturing unexpectedly rose in February, according to reports on Thursday that suggested the economy was poised to grow even as inflation remained a risk.
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The buying power of U.S workers is now rising at the fastest rate since the economic boom of the late 1990s.
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WASHINGTON -- Consumers boosted their spending in July by the largest amount in six months, offering hope that the current economic slowdown may not be as severe as some had feared.