Consumer spending barely budges upward in August
The numbers: Americans cut back on spending in August and saved more, but rising incomes suggest the dropoff is unlikely to last. A key measure of prices also showed no change in inflation.
Consumers might have pared spending after splurging in July, when Amazon held its massive Prime Day sale and rivals offered their own specials. Outlays rose a revised 0.5% in July. Big picture: The U.S. economy has been carried this year by strong consumer spending. Rising incomes stemming from the best jobs market in decades have given Americans the confidence to keep buying new cars and trucks, go out to eat more, and splurge a bit on themselves.
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