WASHINGTON (9/3/13)--Consumer spending in the U.S. inched up in July amid slowing income growth and tame inflation (The New York Times and The Wall Street Journal Aug. 30).
Consumer spending--which is a gauge of how much consumers spend on everything from household cleaners to cars--rose 0.1% in July from June, the Commerce Department said Friday. That follows a robust 0.6% spending increase in June.
Personal income increased 0.1%--a decline from June's 0.3% gain and the slowest pace since April.
The report is a harbinger that consumers may be reducing expenditures after more robust spending increases earlier this year--although they are not curbing spending altogether, the Journal said.