U.S. Consumer Spending Increased Solidly in June

[mahatmakanejeeves]

Source: The Wall Street Journal.

U.S. Consumer Spending Increased Solidly in June

Americans have capacity to remain the primary driver of economic growth

By Eric Morath and Josh Mitchell
[e-mail]
http://twitter.com/EricMorath
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http://twitter.com/JMitchellWSJ

Aug. 2, 2016 8:31 a.m. ET

WASHINGTON—Consumer spending increased steadily for the third straight month in June, suggesting Americans have capacity to remain the primary driver of economic growth this year.

Personal consumption, which measures how much Americans spent on everything from haircuts to cars, increased 0.4% in June from a month earlier, the Commerce Department said on Tuesday. Incomes rose more slowly, increasing 0.2% for the month.

Economists surveyed by The Wall Street Journal had expected personal spending to rise 0.3% in June. Income was projected to increase at the same rate.

Consumer spending also rose 0.4% in May and was up 1% in April. Each of those gains outpaced income growth.

Read more: http://www.wsj.com/articles/u-s-consumer-spending-increases-solidly-in-june-1470141096

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Bureau of Economic Analysis Personal Income and Outlays, June 2016 {8/2/16}

[mpcamb]

1. The effect of cheap gasoline?

[forest444]

2. And with practically zero inflation.

You may remember that when the Shrub was in office, retail sales were often said to "rise;" but that said increases never took inflation into account - inflation which, I might add, was grossly underreported (3% - ha!).

Thank you for these important updates, mahatma.

[cynzke]

3. I DID MY PART, SPENT MONEY ON MYSELF, LOL!