Personal Income up 0.4%, Spending up 0.3%

Americans are making more and spending more, according to an August Personal Income and Outlays report (link opens as PDF) released today by the Commerce Department .

After edging up a revised 0.2% for July , personal income managed a $57.2 billion  (0.4%) increase for August, matching analyst estimates .

Over the same period, personal spending bumped up $34.5 billion (0.3%).  Once again, analyst predictions proved spot on for expenditures .

In a potential sign of longer-term economic optimism, durable goods spending doubled up on its 0.4% July increase, jumping 0.8% in August . The latest new orders report also suggests some growth for August .

Looking back over the last 12 months, personal income has risen 3.7%, while personal spending is up a more conservative 3.2%. 

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