9/28/2018, 2:33 PM (Source: TeleTrader)
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US consumer spending up 0.3% in August

Personal income in the United States increased an estimated $60.3 billion or 0.3% in August, according to a release by the Bureau of Economic Analysis on Friday. Disposable personal income also grew 0.3% or $51.4 billion, and personal consumption expenditures (PCE) increased $46.4 billion or 0.3%. Excluding food and energy, the PCE price index increased less than 0.1%.

According to the report, the main contributors to the personal income were increases in wages and salaries, government social benefits to persons, and nonfarm proprietors’ income. Meanwhile, the PCE rise reflected an increase of $15.3 billion in spending for goods and a $14.3 billion increase in spending for services. Nondurable goods added the most to the good spending growth, while health care topped the list in services.

Breaking the News / DJ