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Consumer spending increases moderately in July

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Consumer spending increases moderately in July

0.3% increase slightly misses expectations.

Consumer spending increased $37.4 billion, or 0.3%, in July, according to the Bureau of Economic Analysis. This followed an upwardly revised increase of 0.3% in June (from the previously-reported 0.2%).

 

Analysts had expected an increase of 0.4%.

 

Personal income increased $67.1 billion, or 0.4%, and disposable personal income increased $61.5 billion, or 0.5%, during the month. In June, personal income increased $59.4 billion, or 0.4%, and DPI increased $52.4 billion, or 0.4%.

 

Personal saving -- DPI less personal outlays -- was $651.1 billion in July, compared with $627.3 billion in June. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.9% in July, compared with 4.7% in June.

 

The full report can be found here.

 

 

 

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