U.S. Consumer Spending Stagnates After Adjusting for Inflation (VIDEO)

http://www.bloomberg.com/news/2012-09-28/consumer-spending-in-u-s-stagnates.html



Consumer spending stalled in August after the surge in gasoline prices squeezed Americans’ paychecks, showing the biggest part of the economy is struggling to contribute to the economic recovery. 

Purchases rose 0.1 percent after adjusting for inflation following a 0.4 percent gain in July, according to data from the Commerce Department issued in Washington today. Other reports showed business activity unexpectedly contracted in September, while consumer sentiment improved.