U.S. consumer spending nearly levels off

09/1/2013 | Bloomberg

U.S. consumer spending barely increased in July, rising 0.1% after a 0.6% gain in June. The result may have been impaired by stagnant household incomes. "We've seen a very, very weak July, but the data that we have in hand for August suggest that we're going to see a pretty significant rebound," said Jacob Oubina, a senior U.S. economist at RBC Capital Markets.

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