Fall in household spending slows
Thursday 30 August 2012
Household spending fell 0.6% in June compared with the year-earlier period, but the fall was noticeably less severe than in the earlier months of this year, the central statistics agency CBS said on Thursday.
Much of the slowdown can be attributed to more people buying a car ahead of a tax increase introduced on July 1. Extra money was also spent on consumer electronics, the CBS said.
Less money is still being spent on clothing, furniture and household items.
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