US personal spending remains flat in August
|Personal spending by Americans remained unchanged in August from a month earlier, while personal income rose 0.2% in the same period, the Commerce Department said on Friday.
Personal spending for August was the lowest reading in five months, while income was the weakest in six months. Expectations were for personal spending to rise 0.1% and income to increase 0.2%.
The personal consumption expenditures price index, the Fed's preferred inflation gauge, rose only 0.1% in August MoM and 1.1% from a year earlier, well below the central bank’s 2% target.
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