Como se combate o populismo? "Com eleições", responde Fukuyama

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8:30am 08/02/05 U.S. JUNE DISPOSABLE INCOME UP 0.5%
8:30am 08/02/05 U.S. JUNE PROPRIETORS' INCOME UP 2%
8:30am 08/02/05 U.S. JUNE WAGES, SALARIES UP 0.2%
8:30am 08/02/05 U.S. JUNE SAVINGS RATE FALLS TO 45-MONTH LOW 0%
8:30am 08/02/05 U.S. JUNE CORE INFLATION RATE FLAT
8:30am 08/02/05 U.S. JUNE CONSUMER SPENDING UP 0.8% AS EXPECTED
8:30am 08/02/05 U.S. JUNE PERSONAL INCOME UP 0.5% VS. 0.4% EXPECTED

ECONOMIC REPORT: Consumers spend it all; Savings rate falls to 0% for first time since 2001
By Rex Nutting, MarketWatch
Last Update: 8:31 AM ET Aug. 2, 2005

WASHINGTON (MarketWatch) - U.S. consumer spending grew 0.8% in June, offsetting the sizable 0.5% gain in incomes, the Commerce Department said Tuesday.

The personal savings rate fell to 0%, the lowest since the spending binge in October 2001 and the second-lowest since the Great Depression.

It was the largest increase in inflation-adjusted spending since last July

Meanwhile, inflation was calm, with both headline and core inflation measures flat for the month. Core inflation is up 1.9% in the past 12 months, the smallest gain since last August.

Economists were expecting incomes to rise 0.4% in June, with spending up 0.8%, according to a MarketWatch survey.

Incomes rose 0.2% in May, while spending was flat.

The data released Tuesday provide monthly details of quarterly data released on Friday. Little impact is seen in financial markets.

The surge in spending was largely due to autos. Spending on durable goods of all sorts increased 2.9% in June, reversing the 2.9% decline in May.

Spending on nondurable goods increased 0.7% in June after falling 0.2% in May.

Spending on services increased 0.5% in June after rising 0.6% in May.

Most of gain in incomes came from business income and income from assets owned. Labor income lagged.

Income from wages and salaries increased 0.2% while supplements to wages increased 0.3%. Proprietors' income advanced 2%. Income from assets grew 1.3%, including a 1.5% increase in income from interest payments. Income from dividends increased 0.8%.

Disposable incomes increased 0.5% in June.

With inflation rates flat, real disposable incomes increased 0.5% as well. Real consumer spending increased 0.8%