U.S. consumer spending increases; inflation eroding households' buying power

WASHINGTON(Reuters) – U.S. consumer spending surged in August, but outlays adjusted for inflation were weaker than initially thought in the prior month, reinforcing expectations that economic growth slowed in the third quarter as COVID-19 infections flared up.FILE PHOTO: People wearing

Factories struggling as supply constraints hit, costs rise

LONDON/TOKYO (Reuters) -Global manufacturing activity took a big hit from supply chain bottlenecks and escalating costs, exacerbated by pandemic-induced factory shutdowns in Asia and signs of slowing Chinese growth, surveys showed on Friday.Machinery is seen at a factory specialising in