Personal Spending Accelerates

Personal spending climbed 0.4% in July, up from a revised 0.3% in June and in-line with forecasts.

Personal income also gained 0.4%, unchanged from June and in-line with forecasts.

Core personal consumption expenditures gained 1.5% in June, a tick ahead of estimates for 1.4%, and 0.1% month-over-month, down from the 0.2% rate in June.