"Cash for Clunkers" Lifts Consumer Spending in July

“Cash for Clunkers” Lifts Consumer Spending in July Nominal consumer spending increased 0.2% in July, after a 0.6% gain in June. In July, the “cash for clunkers” program accounted for the 1.3% increase in purchases of durables (mostly cars). After adjusting for inflation, consumer spending moved up 0.2% in July vs. a 0.1% increase in June. Outlays on non-durables dropped 0.3% in July and purchases of services rose 0.1%. Real consumer spending has now registered three consecutive monthly