Cleaning & Restoration Breaking News

Personal Spending, Income Up in July

WASHINGTON (Reuters) - U.S. personal expenditures surged, the government said on Friday, supplying further evidence of a solidifying economic recovery, although personal income grew slightly less than expected.

The Commerce Department said consumer spending, which comprises about two-thirds of U.S. economic activity, grew 0.8 percent in the month, in line with expectations of analysts polled by Reuters. June personal spending was revised up to 0.6 percent from 0.3 percent.

Personal income grew 0.2 percent in July, less than the 0.3 percent growth rate expected by economists.

Disposable personal income -- personal income after taxes and other bills -- rose by 1.5 percent, boosted by the Bush administration's $350 billion tax cut implemented earlier this year, Commerce said. Without the tax cut, disposable income would have gained only 0.2 percent, the government said.

The report shows Americans were willing to spend the money the tax cut put in their wallets. The government mailed checks for an expanded child tax credit in July and employers began adjusting the amount they deduct from paychecks for taxes the same month.

Personal saving as a percent of personal income rose to 3.8 percent in July, up from 3.1 percent in June.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Beginning April 21, Google will start judging websites based on their mobile friendliness. What exactly does this mean to you cleaning website? Find out in the latest edition of The Hitman Advertising Show, which will also cover tips and suggestions on getting mobile compliant.
More Podcasts

ICS Cleaning Specialist Magazine


2015 April

The April ICS issue features content on concrete polishing, green cleaning, air duct cleaning, injection sprayers and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.png


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view