Consumer Spending Jumps

Salaries and wages increase, too, in July report
By Kevin Spak,  Newser Staff
Posted Aug 29, 2011 9:22 AM CDT
Consumer Spending Jumps
Jody Dickman shops in the Shadyside section of Pittsburgh, Monday, Feb. 14, 2011.   (AP Photo/Gene J. Puskar)

The Commerce Department delivered a welcome bit of positive economic news today, reporting that consumer spending shot up 0.8% in July. That's the metric's best move in five months, and more or less laps the 0.4% to 0.5% economists had expected, the Wall Street Journal reports. Part of the reason: Income was on the rise, too, climbing 0.3% thanks to wage and salary growth. (Read more consumer spending stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X