U.S. Consumer Spending Slowed in July as Incomes Strengthened

American consumers took a bit of a breather in July after a strong spring, while incomes rose more than expected and households put a larger share of their earnings into savings.

Personal-consumption expenditures increased 0.2 percent from the previous month, the Commerce Department said Wednesday. That was down from a 0.3 percent increase in June, although stronger than the 0.1 percent gain economists had forecast.

After adjusting for inflation, spending was essentially unchanged in July, following a 0.4 percent increase in June. The result marked a soft start to the third quarter but followed robust consumption growth during the spring. A…

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