Investing.com - U.S. consumer spending rose as expected in August, slightly less than the month before, according to a report released on Friday.
The Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.3% last month after a 0.4% increase in the previous month.
Economists had forecast consumer spending rising 0.3%.
The Federal Reserve's preferred inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, was uenexpectedly flat in August after an increase of 0.2% in the prior month. Economists had predicted a 0.1% rise.
The so-called core PCE increased in the 12 months through August, remaining unchanged from 2.0% a month earlier.
Personal income rose 0.3% last month after advancing 0.3% the previous month.