WASHINGTON — U.S. consumers barely increased their spending in July after their income grew more slowly, held back by steep government spending cuts that reduced federal workers’ salaries.
The Commerce Department says consumer spending rose just 0.1 percent in July from the previous month. That’s slower than June’s 0.6 percent increase.
Consumers cut their spending on long-lasting manufactured goods, such as cars and appliances, while spending on services was unchanged.
Read tomorrow's Arkansas Democrat-Gazette for full details.