Free Markets, Free People

Economic Statistics for 2 Aug 16

Personal income for June rose 0.2%, but consumer spending rose 0.4%. The PCE Price Index rose 0.1% at both the headline and core rates. On a year-over-year basis, the PCE Price index is up 0.9% overall, and 1.6% less food and energy.

Motor vehicle sales were very strong in July, jumping to a 17.9 million annual rate from June’s 16.7 million.

Gallup’s Economic Confidence Index fell -1 point in July to -15.

Redbook reports that last week’s retail sales growth weakened further falling to 0.3% on a year-ago basis, from the previous week’s 0.6%.

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