US personal spending rises 0.8% in July, more than estimates

By Ovunc Kutlu

ISTANBUL (AA) - Americans' personal spending increased 0.8% in July, more than estimates, according to official figures released Thursday.

Personal consumption expenditures increased $144.6 billion last month, according to data from the Commerce Department's Bureau of Economic Analysis.

The market estimates were expecting to show an increase of 0.7%.

Personal consumption expenditures for June was revised upward to a gain of 0.6%, from an increase of 0.5%.

Personal outlays, which include consumption expenditures, personal interest payments and current transfer payments, increased $153.8 billion in July, according to the figures.

While personal saving was $705.6 billion in July, the personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.5%, figures showed.