ACA Association of Credit and Collection Pro : CREDITORS: Consumer Spending Rebounds in Late 2015

Consumer spending rebounded in November 2015 after no change in October last year, according to the latest U.S. Economy in a Snapshot report from the Federal Reserve Bank of New York. The real consumption expeditures increased 0.3 percent in November.

'The general trend for consumer spending remains fairly solid, although growth [in the fourth quarter] appears to be slowing from the pace in [the third quarter,]' according to the Fed.

Consumers' real disposable income increased 0.2 percent in November, just slightly less than the 0.3 percent gains in October and September.

Their personal savings rate declined slightly to 5.5 percent in November compared to the three-year high of 5.6 percent in October, according to the Fed.

The Fed also found that consumers' consumption of goods was on the rebound after a decline in October. Expenditures on durable goods increased 1.1 percent in November, while expenditures on nondurable goods increased 0.9 percent, according to the report.

Consumers continued to hold back on their spending on services, similar to the October report results, and spending on household utilities also declined due to unseasonably warm weather.

U.S. Economy in a Snapshot, established by the Fed in June 2015, is designed to provide a condensed, comprehensive overview of current economic and financial developments. This monthly packet presents charts and commentary on a broad range of topics that include labor and financial markets, consumer behavior and the global economy.

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