Consumer spending rose a little more than economists had predicted last month, according to new government statistics released Monday. This came despite a slower-than-expected expansion in income.
Data released by the U.S. Department of Commerce showed that personal spending rose by 0.4 percent in August. Economists had expected the figure to rise by 0.3 percent.
income also increased during the month. The figures showed a 0.3 percent advance during August, below expectations of a 0.4 percent increase.
The PCE price index, a closely watched measure of inflation, showed a 0.3 percent increase. Excluding food and energy, the figure was up 0.1%.
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