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Personal Income up 0.4%, Spending up 0.3%

By Justin Loiseau - Sep 27, 2013 at 12:00AM

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Durable goods suggest more confident consumption.

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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Fool contributor Justin Loiseau has no position in any stocks mentioned. You can follow him on Twitter @TMFJLo and on Motley Fool CAPS @TMFJLo.

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