There's more good news today about American economic recovery, as the number-crunchers reported increases in income and spending by consumers.
In July, according to the Bureau of Economic Analysis, personal income rose by $14.1 billion, disposable income by $21.7 billion, and consumption expenditures by $16.3 billion. The jumps are not as high as those recorded for June, according to revised estimates for that month, but the trend is still upward.
Even so, the spending increase could be attributed to more mothers going back to work, and more families relying on food stamps. The Census Bureau reported those elements in the same survey that found a drop in home ownership.
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