Economic Report: Consumers spend more on new cars and recreational goods in September

Americans are spending plenty of money thanks to a great jobs market and strong economy, but inflation is also taking a bigger bite out of paychecks.

The numbers: Americans bought more new cars and recreational goods in September, the sort of consumer spending that takes place when the economy is strong like it is now.

Consumer spending climbed 0.4%, the government said Monday, matching the MarketWatch forecast. It was the seventh month in a row in which spending has increased by that amount or higher.

Read: GDP growth of 3.5% marks best two-quarter stretch in four years

Incomes rose a smaller 0.2%, however.

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