Posted on 08/29/2011 7:05:47 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) — Americans spent more money than they took in July — largely on auto purchases — as the personal savings rate fell, the government reported Monday.
The income of U.S. workers rose 0.3% in July, but spending climbed an even faster 0.8%, the Commerce Department said. The rise in spending matched the increase in February as the largest since summer 2009...
Inflation, meanwhile, rose 0.4% based on the latest reading from the personal consumption expenditure price index. The index has increased 2.8% over the past 12 months, pressured by rising gas prices.
(Excerpt) Read more at marketwatch.com ...
Sorry, that’s my fault. I got a marginal raise and it’s throwing the numbers off.
people were buying cars?
Spending climbs 0.8% in July.Back to school sales makes news.
And in other news august sale up 0.5% at home depot due to Irene.
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