For the third month in a row, personal spending missed Bloomberg’s median expectation. However, as incomes rose 0.4% in June so spending also rose 0.4% – its best MoM rise in 3 months. The biggest MoM rise was in energy goods and services (+1.67% MoM – the biggest rise this year) – hardly the things sustainable recoveries are built on.
via Zero Hedge http://ift.tt/1tCgS06 Tyler Durden