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U.S. consumer spending beats expectations in September

Kitco News

WASHINGTON (Reuters) - U.S. consumer spending increased more than expected in September, but a resurgence in COVID-19 cases across the nation could slow spending in the fourth quarter.

Consumer spending, which accounts for more than two thirds of U.S. economic activity, rose 1.4% last month after gaining 1% in August, the Commerce Department said on Friday. Economists polled by Reuters had forecast consumer spending rising 1% in September.

Reporting by Lucia Mutikani; Editing by David Goodman

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