Consumer Spending Jumps

Salaries and wages increase, too, in July report
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. (More consumer spending stories.)

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