Consumer Spending Picks Up as Americans’ Incomes Rise

Consumer Spending Picks Up as Americans’ Incomes Rise

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Shopping bag by londoninflames via FlickrConsumer spending in the US increased in July by the largest margin in five months, after personal incomes climbed 0.3 percent, the Commerce Department said today.

Americans’ spending is closely watched because it accounts for 70 percent of economic activity. The 0.3 percent growth in income matched the gains from May and June.

(READ the AP story from NPR News)

Photo: Londoninflames via Flickr

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