Rupkey Cites Sandy for Fall in Consumer Spending
Nov. 30 (Bloomberg) -- Chris Rupkey, chief financial Economist at Bank of Tokyo-Mitsubishi UFJ, talks about October consumer spending.
Purchases decreased 0.2 percent, the weakest reading since May, after a 0.8 percent gain in the prior month, Commerce Department figures showed today in Washington. Incomes were unchanged, held down by a drop in wages caused by superstorm Sandy, Commerce said. (Source: Bloomberg)