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%.
