US: Personal Income Rises by 1.1% in July

The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income expanded by 1.1% in July. This reading came in better than the market expectation of 0.2%. 

Further details of the report revealed that Personal Spending, which increased by 1.1% in June, rose by 0.3% in the same period, compared to analysts’ estimate of 0.5%.