Figures out Friday morning indicate U.S. consumer spending in August turned in the weakest performance in five months, reflecting a drop in spending on autos.
The Commerce Department report also says income growth also slowed in August as wages and salary gains were smaller following four strong months.
The department says that consumer spending was unchanged last month after solid gains of 0.4% in July and 0.3% in June. It was the poorest showing since a flat reading in March.
Personal incomes rose 0.2% last month, just half the gain in July. It was the weakest income performance since a 0.1% drop in February. Wages and salaries, the biggest income category, were up just 0.1% after two months of 0.5% increases.
