Personal Income Fell 0.7% In July - Biggest Drop In 3 Years »
Posted By TimALoftis 10 months, 1 week ago in Business & FinanceWASHINGTON (MarketWatch) - Real consumer spending fell 0.4% in July, the Commerce Department reported Thursday. This is the biggest drop since June 2004. Nominal spending rose 0.2%. Personal income fell 0.7% in July, the biggest drop since August 2005. Real disposable incomes fell 1.7% in July. This is the second straight large monthly drop in the wake of the government stimulus payments. Inflation surged in the month.
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