U.S. Consumer Spending Declines 0.1% in July

Household spending fell in July, a sign that cautious consumers could hold back economic growth in the second half of the year.

Personal spending, which measures what Americans pay for everything from sneakers to doctor visits, declined a seasonally adjusted 0.1% in July from a month earlier, the Commerce Department said Friday. It was the first time spending fell for a month since January. In June, consumer spending advanced 0.4%.