Durable goods spending jumps
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Manufacturing News, Source : TheManufacturer.com
Published : 30 Aug 2004 16:04
Consumer spending on manufactured durable goods, including automotive purchases, rose 4.1 percent, up significantly from June's revised 3.2 percent drop, according to figures released by the US Department of Commerce today.
Nondurable goods spending advanced 0.2 percent in July, unchanged from June's revised 0.2 percent rise.
Personal spending on the whole, meanwhile, rose 0.8 percent in July, up from a revised 0.2 percent fall in June. Personal income rose 0.1 percent, down from a 0.2 percent gain the previous month. The rise in personal income was the weakest since November 2002.
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