Personal Spending Rises 0.4%

Consumer personal spending rose 0.4% in July, the Commerce Department said Friday.

The gain followed a revised 0.2% increase in June.

Personal incomes rose 0.5%, the most in four months, following a 0.4% rise.

The spending gain was greater than economists’ forecasts of a 0.3% increase, Bloomberg reported.

An increase in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.