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U.S. consumer spending rises, boosted by jump in services

WASHINGTON (Reuters) - U.S. consumer spending rose more than expected in January as outlays on services recorded their largest increase since late 2001, likely driven by demand for heating. The Commerce Department said on Monday consumer spending increased 0.4 percent after advancing by a revised 0.1 percent in December. Spending was previously reported to have gained 0.4 percent in December.

Household income grows 2.1 pct in 2013 on improved employment

SEJONG, Feb. 21 (Yonhap) -- South Korean household income grew 2.1 percent on-year in 2013 thanks in part to improved labor market conditions that led to more employment, a government report showed Friday, although the slow pace of growth suggests a lingering economic slump. According to the report by Statistics Korea, the monthly income of households consisting of two members or more stood at an average of 4.16 million won (US$3,875) last year, up from 4.07 million won tallied a year earlier.

High-income earners' spending to boost job creation, economic growth: report

SEOUL, Feb. 9 (Yonhap) -- A 10 percent rise in spending by high-income earners could help create nearly 170,000 jobs per year, a private think tank said Sunday, underlining the importance of consumption by the wealthy in boosting domestic demand and growing the economy. "If high-income earners had spent 10 percent more of their spending capacity from 2006-2012, we estimate that it could have resulted in creating an annual average of 168,000 jobs and generating an additional 7.2 trillion won (US$6.7 billion) in gross domestic product," Hyundai Research Institute said in a report.

High-income earners' spending to boost job creation, economic growth: report

SEOUL, Feb. 9 (Yonhap) -- A 10 percent rise in spending by high-income earners could help create nearly 170,000 jobs per year, a private think tank said Sunday, underlining the importance of consumption by the wealthy in boosting domestic demand and growing the economy. "If high-income earners had spent 10 percent more of their spending capacity from 2006-2012, we estimate that it could have resulted in creating an annual average of 168,000 jobs and generating an additional 7.2 trillion won (US$6.7 billion) in gross domestic product," Hyundai Research Institute said in a report.

High-income earners' spending to boost job creation, economic growth: report

SEOUL, Feb. 9 (Yonhap) -- A 10 percent rise in spending by high-income earners could help create nearly 170,000 jobs per year, a private think tank said Sunday, underlining the importance of consumption by the wealthy in boosting domestic demand and growing the economy. "If high-income earners had spent 10 percent more of their spending capacity from 2006-2012, we estimate that it could have resulted in creating an annual average of 168,000 jobs and generating an additional US$7.2 trillion in gross domestic product," Hyundai Research Institute said in a report.

High-income earners' spending to boost job creation, economic growth: report

SEOUL, Feb. 9 (Yonhap) -- A 10 percent rise in spending by high-income earners could help create nearly 170,000 jobs per year, a private think tank said Sunday, underlining the importance of consumption by the wealthy in boosting domestic demand and growing the economy. "If high-income earners had spent 10 percent more of their spending capacity from 2006-2012, we estimate that it could have resulted in creating an annual average of 168,000 jobs and generating an additional US$7.2 trillion in gross domestic product," Hyundai Research Institute said in a report.

US consumer spending rose in December but incomes flat

US consumers spent more in December, but at a slower pace from the previous month as personal incomes held unchanged, data released Friday showed. The Commerce Department said consumer spending rose 0.4 percent in December, a slowdown from the 0.6 increase in November. The December pace was twice as strong as analysts expected. But in a worrying sign for future spending, the key driver of the US economy, personal income was flat, after a slight 0.2 percent rise in November.

U.S. consumer spending rises 0.3 percent in October

WASHINGTON, Dec. 6 (Xinhua) -- U.S. families continued to boost their spending in October despite a decline in their take-home income, the Commerce Department Friday said in a report. U.S. personal consumption expenditures (PCE) rose 0.3 percent in October, higher than the 0.2 percent growth rate in September, according to the report. U.S. personal income edged down 0.1 percent in October, after rising 0.5 percent in September, said the department.

US consumer spending picks up speed in October

US consumer spending picked up pace in October, despite a dip in income, the Commerce Department reported Friday. Consumer spending rose 0.3 percent in October, matching the average estimate, accelerating slightly from a 0.2 percent in increase in September. Personal income fell 0.1 percent instead of the 0.3 percent rise expected by most analysts. Incomes had climbed 0.5 percent in September and August.

Monthly household income grows faster in Q2, but spending still weak

SEOUL, Aug. 23 (Yonhap) -- Annual growth of South Korean households' monthly income picked up in the second quarter from three months earlier, but their spending still remained weak, a government report showed Friday. Households' monthly income averaged 4.04 million won (US$3,608) in the April-June period, up 2.5 percent from a year earlier, according to the report by Statistics Korea. In the first quarter, household income grew 1.7 percent on-year.
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