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updated: 11/30/2012 10:10 AM

Sandy slowed U.S. consumer spending and pay in Oct.

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  • Americans cut back on spending in October and saw no growth in their income, reflecting disruptions from Superstorm Sandy. On Friday, Nov. 30, 2012, the Commerce Department said consumer spending dropped 0.2 percent in October. That's down from an increase of 0.8 percent in September and the weakest showing since May. Income was flat in the month following a 0.4 percent rise in September.

      Americans cut back on spending in October and saw no growth in their income, reflecting disruptions from Superstorm Sandy. On Friday, Nov. 30, 2012, the Commerce Department said consumer spending dropped 0.2 percent in October. That's down from an increase of 0.8 percent in September and the weakest showing since May. Income was flat in the month following a 0.4 percent rise in September.
    Associated Press

 
Associated Press

Americans cut back on spending last month while their income remained flat. the weakness in part reflected disruptions from superstorm sandy that could slow economic growth for the rest of the year. work interruptions caused by the storm reduced wages and salaries in october by about $18 billion at an annual rate, the government said. the storm affected 24 states, with the most severe damage in new york and new jersey.

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