U.S. CONSUMER SPENDING JUMPED IN JULY, INCOME GAINS REMAIN LOW

Key Points:

  • U.S. consumer spending rose by 0.8%, or $144.6 billion, in July, after rising 0.6% in June.
  • Personal income increased by 0.2%, or $45.0 billion, in July, after rising 0.3% in June.
  • The overall personal consumption expenditures price index rose 0.2% in July and is up 3.3% from a year prior.
  • The core personal consumption expenditures price index, which excludes food and energy, rose 0.2% in July and is up 4.2% from a year prior.
  • The Right Facts will continue to monitor spending, prices, and income.
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