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Consumer spending in the United States rises 0.3 percent in July

Personal consumer spending in the United States grew just 0.3% last July, boosted by low inflation and wage rises, the Commerce Department reported today.

Washington, Aug 31 (EFE) .- Personal consumer spending in the United States grew just 0.3% last July, driven by low inflation and wage increases, Department of Commerce.

July's growth in household consumption, which is considered the real engine of the US economy because it accounts for two-thirds of activity, Was in line with analysts' forecasts.

In its report, the government revised spending growth in June from 0.1 percent initially estimated at 0.2 percent. As for personal incomes, which include all incomes in addition to wages, they rose by 0.4% in July.

Meanwhile, the personal saving rate, which quantifies the level of Savings as a percentage of disposable income fell in July from 3.6% to 3.5%.

Between April and June, in the second quarter of the year, consumer spending in the United States Up 3.3%, according to the government this week when it published its second estimate on the evolution of gross domestic product (GDP) in that period.

In the second quarter GDP Grew at an annual rate of 3%, more than double the 1.2% registered in the previous period.

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