US Personal Spending Unchanged in August
Consumer spending in the United States was flat in August from July of 2016, after rising an upwardly revised 0.4 percent in the previous period. It is the worst performance in five months and worse than market expectations of a 0.1 percent gain.
Spending declined for both durable (-1.3 percent) and nondurable (-0.2 percent) goods but rose 0.3 percent for services.
Personal income went up 0.2 percent, lower than a 0.4 percent rise in July but in line with expectations. It primarily reflected increases in compensation of employees, personal income receipts on assets, and government social benefits to persons. Real DPI increased 0.1 percent in August.
The PCE price index increased 0.1 percent from July. Excluding food and energy, the PCE price index went up 0.2 percent in August.
9/30/2016 12:52:54 PM