Here Comes Personal Income And Spending...
Aug 30, 2013, 17:46 IST
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Economists estimate that income climbed by 0.2% while spending increased by 0.3%.
"Data from the employment report showed weaker job growth in July," said Wells Fargo's John Silvia. "Combined with a slightly shorter workweek and a pullback in earnings, take home pay looks to have softened.... Retail sales growth slowed over the month, while a smaller increase in gasoline prices saved consumers from having to step up spending at the pump as much as they did the previous month."