- Personal spending in the United States rose more than expected in July.
- The US dollar index points to a slight rebound after the data.
Personal spending in the United States rose 1.9% on a monthly basis in July, data released by the US Bureau of Economic Analysis revealed on Friday. This reading followed the 6.2% increase in June (revised from 5.6%) and was slightly better than market expectations of + 1.5%.
Further details from the publication showed that personal income, which fell 1% in June, rose 0.4%, compared to analysts’ estimate for a decline of 0.2%.
The US dollar index recovered modestly with the initial reaction to the data and was last seen losing 0.65% on the day to 92.38.