Consumer spending continues growth in July as incomes rise
Another report of robust job gains in August will further boost expectations for Fed to raise interest rates in Sept
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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.
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