The real personal consumption expenditure reading for August inched up 0.1 percent from July, the Bureau of Economic Analysis reported Friday. Growth in spending for the month slowed after a 0.4 percent increase in July. Personal consumption is a key indicator for freight transportation. Growth signals increased spending on consumer goods such as household items.
Real personal income declined for the second consecutive month, down 0.3 percent from July. Real disposable income also dropped, down 0.3 percent following a 0.1 percent increase in July. Wages edged up 0.1 percent in August.