Personal spending slowed from 0.8% in May to 0.6% in June, topping the forecast of 0.4%, and personal income increased 0.1%, ahead of the forecast of a 0.2% drop. The PCE Price Index rose 0.8%, which indicates that real spending – or spending adjusted for inflation – fell 0.2% in June.
Factory orders rose 1.7% in July, beating the estimate of a 0.7% increase. Ex-transportation, orders were up a more robust 2.3%.
Details from Bloomberg...
