Consumer Spending Declines in July

Washington, DC, Aug. 29, 2014 — Consumer spending fell in July, according to the Commerce Department.

Spending declined a seasonally adjusted 0.1% in July from a month earlier. It was the first time spending fell for a month since January.

However, personal income rose 0.2% in July, which was the smallest monthly increase of the year.

Adjusted for inflation, consumer spending fell 0.2% in July from June.