“Despite today’s encouraging numbers, we must do more to create jobs. That’s why it’s critical that Congress act to pass the measures in the president’s jobs act.”
Consumer spending — a key driver that represents 70 percent of the economy — increased 2.4 percent in the third quarter, a more than threefold increase over the 0.7 percent in the second.
The personal saving rate — as a percentage of disposable personal income—was 4.1 percent in the third quarter, compared with 5.1 percent in the second quarter.
Durable goods increased 4.1 percent, in contrast to a decrease of 5.3 percent.
Services were up 3 percent, compared with an increase of 1.9 percent.