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Consumption has also been supported by the Trump administration’s $1.5 trillion tax cut as well as higher savings. However, economists said the stimulus from the tax cuts was fading and many expected consumer spending to slow sharply in the fourth quarter. Some also worried a recent stock market sell-off had dented household wealth, which could hurt spending. “We believe lower tax withholdings provided meaningful lift to consumer spending growth so far this year, but that the incremental support to growth from taxes should be fading,” said Michael Feroli, an economist at JPMorgan in New York.

“We look for a more meaningful deceleration (in consumer spending) in the fourth quarter.”, Economists are estimating that consumer spending grew at an annualized rate of about 3.5 percent in the third quarter, which would be slightly cufflink engraving below the 3.8 percent pace logged in the April-June period, Solid consumer spending should help to offset the impact on the economy from a widening trade deficit and persistent weakness in the housing market, Growth estimates for the third quarter are above a 3.0 percent rate, The economy grew at a 4.2 percent pace in the second quarter, Growth prospects for the July-September quarter were bolstered by a second report from the Commerce Department on Monday showing business inventories rose 0.5 percent in August after increasing 0.7 percent in July..

Inventory investment is expected to contribute to GDP growth after a liquidation of stocks sliced 1.17 percentage points from output in the April-June quarter. Strong economic growth likely will keep the Federal Reserve on course to raise interest rates in December. The U.S. central bank hiked rates last month for the third time this year. Tightening monetary policy has roiled financial markets in recent days. U.S. stocks were trading lower on Monday. The dollar was marginally weaker against a basket of currencies, while U.S. Treasury yields rose. Last month, auto sales surged 0.8 percent after declining 0.5 percent in August. Receipts at clothing stores rebounded 0.5 percent after tumbling 2.8 percent in August. Online and mail-order sales soared 1.1 percent in September after rising 0.5 percent in the prior month.

There were also strong increases in receipts at furniture, hobby, musical instrument and book stores as well as electronics and appliances outlets, But Americans cut back on spending at restaurants and bars, with sales dropping 1.8 percent, That was the biggest decline since December 2016 and followed a 0.3 percent rise in August, While the Commerce Department said it was impossible to determine the impact of Hurricane Florence on the data, disruptions caused by the storm could have hurt cufflink engraving sales at restaurants and bars last month..

FRANKFURT (Reuters) - Germany’s Transport Ministry said on Monday it would order roughly 100,000 Opel vehicles to be recalled as part of an emissions probe, after prosecutors searched the carmaker’s offices earlier in the day. German motor vehicle authority KBA found four software programs capable of altering vehicle emissions in 2015, and ordered Opel to implement a software update in cars to remove them, Germany’s Transport Ministry said in a statement. “After a fifth software device was discovered in early 2018, which KBA found to be illegal, there is currently an official hearing going on with the goal of imposing a mandatory recall for the models Cascada, Insignia and Zafira,” the ministry said in a statement.

The transport ministry said Opel had dragged its feet on the hearing, The KBA had told Frankfurt prosecutors about the software device in April, it said, “The official recall of the affected roughly 100,000 vehicles will cufflink engraving take place shortly,” it added, Opel said in a statement it rejected any accusation of using illegal defeat devices that can manipulate exhaust emission tests, also denying it was procrastinating, “Should (a mandatory recall) be ordered, Opel will challenge it legally,” said the carmaker ..

German prosecutors searched offices at Opel’s sites in Ruesselsheim and Kaiserslautern earlier on Monday. The Frankfurt prosecutor’s office said it was probing 95,000 vehicles equipped with Euro 6d engines. PSA Group, which owns the Opel and Vauxhall brands, declined to comment. The Opel Insignia, Zafira and Cascada were developed when Opel and its sister brand Vauxhall were still owned by General Motors. General Motors sold Opel to PSA Group in 2017. Opel admitted in 2016 that its Zafira model contained engine software which switched off exhaust emissions treatment systems under certain circumstances. Opel insisted at the time that it was making use of a legal loophole.

ORLANDO, Fla, (Reuters) - French planemaker Dassault Aviation (AVMD.PA) will nudge up production rates on certain business jet models, including its Falcoln 8x and 2000 jets, Chief Executive Eric Trappier said on Monday, a sign of broader industry demand for corporate aircraft, “We are at the moment increasing a little bit our rate of production,” Trappier told reporters ahead of a major industry aviation show in Orlando, He would not give specifics, cufflink engraving Trappier said Dassault expects to deliver 40 business jets in 2018, Trappier said he would increase production of certain models in 2020..



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