American Summer of Spending Goes Beyond Taylor Swift and Movies
- Third-quarter consumer spending was largely discretionary
- Shoppers increasingly doled out on sporting equipment, travel
Consumer spending was powered in large part by discretionary purchases on things like sporting equipment, airline travel and gambling.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Americans spent money at the fastest rate in nearly two years last quarter. And by the looks of it, they weren’t afraid to live a little.
Consumer spending rose 4% in the July to September period, fueling a blowout quarter for economic growth, according to government data out Thursday. It was powered in large part by discretionary purchases on things like sporting equipment, airline travel and gambling.