Personal Spending Rises 0.2% in July

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Consumer personal spending rose 0.2% in July, while prices rose by the most in 17 years, the Commerce Department said Friday.

Incomes fell by 0.7%, the first decline since August 2005.
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The spending increase matched economists’ forecasts, Bloomberg reported.

An increase in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.

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