Consumer spending continues growth in July as incomes rise

Washington

CONSUMER purchases advanced for a fourth straight month in July, bolstered by stronger income gains, sending the biggest part of the US economy to a solid third-quarter start.

The 0.3 per cent rise matched forecasts and followed a 0.5 per cent increase in the prior month that was revised up, a Commerce Department report showed on Monday in Washington. Incomes rose 0.4 per cent, the most in three months.