Personal Spending Rises by Most in Three Months

Personal spending rose 0.4% in June, the most in three months, the Commerce Department reported Aug. 1.

That followed a 0.3% increase in May that was larger than the 0.2% previously estimated.

The June gain matched the median forecast of economists surveyed by Bloomberg News. Incomes rose by 0.4%, also matching forecasts.

Consumer spending accounts for about 70% of the economy.

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