US: Consumer Spending Rises in July, But Core PCE Inflation Edges Higher Too

Consumer spending and income growth both improved in July. Personal income rose 0.4% month-over-month (m/m), a hair above the market consensus forecast. Growth in wages and salaries picked up to 0.7% m/m from 0.1% in June, while government transfer payments were flat on the month. Consumer spending grew 0.5% m/m in nominal terms, coming on […]

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