Personal spending rose for the third straight month in July, and June’s increase was revised upward, the Commerce Department reported Aug. 30.
The 0.1% gain followed June’s 0.6% increase, which was originally reported as a 0.5% upturn.
Economists had forecast a 0.3% increase for July spending, Bloomberg News reported. Personal incomes edged up 0.1%.
A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.