Consumer Spending Gains For The Fourth Month In A Row

The US economy has received another boost as consumer spending rose in July—the fourth consecutive month of growth and a sign consumption may continue to propel the economy forward in the second half of the year.

Personal consumption—or what Americans spend on everything from eating out to hotel stays—jumped 0.3% last month compared to June, according to the Commerce Department. Incomes picked up as well, with a 0.4% gain compared to the previous two months, the Wall Street Journal reports.

However, the report also revealed anemic signs of inflation pressures, which have yet to hit the Federal Reserve’s 2% goal. The consumer expenditures price index shows inflation remained flat in July, compared to the previous year when the index was up 0.8%. Stagnant inflation remains one of the economic indicators keeping the Fed from boosting interest rates, though arguments have been made that we could see a rate hike as soon as next month. [WSJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Why Hines Is Restarting Its Development Engine

How Integrated Infrastructure Can Help AI Data Centers Deploy Faster, Build Smarter

Nvidia Buys Stake In Data Center Power Company

Invesco Cuts Fees, Adds Incentives To Quell Fund Redemption Requests

Investors Anchor Big Capital Into Marinas, Betting On Shallow Supply

Nike Closes 15 Stores Amid Tumultuous Year

Large Commercial Real Estate Sales Up 30% Despite Economic Headwinds

Evergrande Founder Sentenced To Life, 56 Others Sent To Prison In China

Loud And Clear: Why Aiphone Thinks Intercom Ownership Is Best For Multitenant Buildings

The Fast-Food Exec Taking Her Real Estate Talents To The Looksmaxxing Era

Republicans, Democrats Backing Away From Data Centers Amid Rising Backlash

TJ Maxx Parent Plans To Accelerate Store Openings In 2027