Consumer spending in the U.S. rose in July for a third month as Americans’ incomes climbed, indicating household purchases are sustaining the economic expansion. Consumer purchases, which account for about 70 percent of the economy, rose 0.1 percent after a revised 0.6 percent increase the prior month that was larger than previously estimated, the Commerce Department reported today in Washington. The median forecast in a Bloomberg survey of economists called for a 0.3 percent rise. Incomes increased 0.1 percent. Stronger property values are helping bolster household purchases of appliances and automobiles even in the ... (full story)