Personal Income, Consumer Spending Both Ticked Up Modestly in July, BEA Says

Total personal income and personal consumption expenditures both increased in July after holding steady the previous month, according to figures released Aug. 30 by the Commerce Department’s Bureau of Economic Analysis.

Personal income rose 0.2 percent last month, and consumer spending saw a 0.4 percent increase, BEA said. By comparison, in June, personal income and personal consumption expenditures both remained unchanged from May. Analysts viewed the figures with cautious optimism.

“Last month’s report indicated that consumers were pulling back; this report indicates that the American consumer is cautiously [loosening] up a bit and there exists pent-up demand for large ...