Here come personal income and spending ...
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On Thursday, the third estimate of second-quarter gross domestic product showed that consumer spending continued to play a key role in holding up the economy as businesses cut back.
Economists forecast that personal incomes increased by 0.2%, while spending rose 0.1%, according to Bloomberg. These would reflect a slowdown from a relatively strong July.
They estimate that core personal consumption expenditures, a gauge of inflation that excludes food and energy prices, rose 0.2% month-on-month and 1.7% year-on-year. This is the Fed's preffered way to measure inflation, and the year-on-year increase would remain below its 2% target.
This report will also include the savings rate, which has slipped in recent months but is still above pre-recession levels, at 5.7%.
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