On the program today, thinking about economic data and the economic thinking inside the

wine house, from American public media, this is Marketplace.

In Los Angeles, I'm Kai, Rizdole.

It is Thursday today, the 31st of August and to the month good as always to have you

along, everybody.

The economic view from inside the Biden White House in a little bit, first though, of

you of the economic data and the lessons therein.

We told you yesterday that the revision in economic growth of the second quarter, April

through June, included the tidbit that consumers had spent even more during those three months

than we had originally thought.

Today, we learned they kept spending in July.

Personal income and outlays is the data set.

The Bureau of Economic Analysis is the source.

It turns out that last month, consumers spent more on both goods and services, despite

the Fed's best efforts to get us to cool it.

Marketplace's Kimberly Adams has more on why and what it all means.

If spending earlier in the year was about getting ready for a summer of revenge travel,

Jay Zagorski at Boston University's Question School of Business says now, we're starting

to get back to more normal times where you've done your travel and it's now time to

sort of hunker down a little bit more at home.

That gave people one reason to spend nine tenths of a percent more on goods in July than

in June.

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