Consumer Spending +.4%, Personal income -1.3%.

Share this

Christopher S. Rugaber reports, “The Commerce Department said Tuesday that consumers boosted their spending 0.4 percent in June, slightly ahead of analysts’ estimates. That comes after spending rose 0.1 percent in May.  Personal income fell 1.3 percent after rising by the same amount in May, when incomes were boosted by one-time payments from the Obama administration’s stimulus package. Economists expected personal incomes, the fuel for future spending, to fall 1 percent…The department said the personal savings rate fell to 4.6 percent in June, after jumping to 6.2 percent in May,”