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U.S. consumer spending rises modestly as real outlays level off

Reported · Written up by our desk · Major Pairs

U.S. personal income increased by 0.4% month over month in July, slightly above market expectations of a 0.2% gain, according to analysis from Action Forex.

After adjusting for inflation, taxes, and transfers, real disposable personal income also rose by 0.4% month over month. Consumer spending increased modestly by 0.2% month over month in nominal terms.

However, when adjusted for inflation, consumer spending was flat month over month, suggesting a softer real spending footing as the third quarter begins.

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