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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| August 04, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Income and spending rise 0.3%

Personal income and disposable income both rose 0.3% in June, the Commerce Dept. said. Personal spending rose 0.3%, as services outlays rose 0.2% and durable and nondurable goods spending rose 0.4%. Adjusted for price increases, income and outlays rose 0.1%. Saving as a share of disposable income held steady at 3.3%. May's spending gain was revised to 0.4% from 0.1%.

Consumer sentiment rises in July

The Univ. of Michigan's consumer sentiment index rose to 90.9, up from 90.3 in mid-July and June's 89.7. That differed from the Conference Board's surprising confidence drop in July. The IBD/TIPP Economic Optimism Index also showed a small rise in July. The Aug. poll will be out Aug. 12.

Construction outlays flat in June

Spending held steady at an annualized $864.3 bil, up 1.1% vs. June '02 but below forecasts. Private spending fell 0.3% from May to $652.1 bil, as residential spending fell 0.4% to $434.8 bil, the fourth straight drop. Office spending rose 3.1%, but was still down 12.8% from June '02. Public spending ...

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