Consumer Spending Post Moderate Rise In July; Wages And Salaries Make Big Jump

[Purveyor]

Source: Associated Press

WASHINGTON – U.S. consumers increased their spending moderately in July, as wages and salaries made their biggest jump in eight months.

Spending rose 0.3 per cent in July, helped by purchases of big-ticket items such as cars, the Commerce Department reported Friday. June’s result was revised up to a matching 0.3 per cent gain.

Incomes increased 0.4 per cent in July. The key category of wages and salaries rose 0.5 per cent, the biggest advance since last November.

The report indicates that consumer spending, which accounts for 70 per cent of economic activity, got off to a good start in the third quarter. The result suggests that strong momentum from the second quarter rolled into July.

Read more: http://www.news1130.com/2015/08/28/us-consumer-spending-post-moderate-rise-in-july-wages-and-salaries-make-big-jump

[bluestateguy]

1. Uh oh. The markets don't like good news for working people!

The screaming yo-yo's on the trading floor start shitting in their pants about higher interest rates and inflation.

[JDPriestly]

2. "Incomes increased 0.4 per cent in July."

That's good.

[Igel]

4. For a lot of people that's the start of a new fiscal year.

The lack of a larger increase in May and June wasn't a big deal. Except for those who think each month is a new trend in the national economy.

[jtuck004]

3. Durable Goods Up 2.0% for July

http://www.economicpopulist.org/content/durable-goods-20-july-5830


Wow. At this rate we will get ahead...wait...let's see.


Oh yeah. Fucking never.