U.S. CONSUMER SPENDING INCREASED 1.9% IN JULY, BEATING EXPECTATIONS

Key Points:

  • U.S. consumer spending increased 1.9% in July, beating economists’ expectations of a 1.5% increase.
  • Consumer spending has increased for the last 3 months, and is up 17.5% from April.
  • Personal income also beat the expected 0.2% decline and increased 0.4% in July.