03:10 PM EDT, 08/29/2025 (MT Newswires) -- Personal income was up 0.4% in July, as expected, lifted by a 0.6% gain in wages and salaries and gains in other income categories.

Personal consumption expenditures rose by 0.5% in July after a 0.4% increase in June, with gains in both goods and services spending.

After an adjustment for a 0.2% increase in the PCE price index, real consumption was up 0.3% in July after a 0.1% increase in June. The year-over-year rate for the overall price index remained at 2.6%.

Core PCE prices rose by 0.3% in the month, as expected, lifting the year-over-year rate to 2.9% from 2.8%.

The advance goods trade deficit widened to $103.57 billion in July from $84.85 billion in June, reflecting an import surge and a decline in exports. The full trade report is scheduled to be released on Sept. 4.

Advance wholesale inventories and advance retail inventories both rose by 0.2% in July. Wholesale inventories will be updated on Sept. 10, while retail inventories are eligible for revision on Sept. 16.

The Chicago PMI fell to 41.5 in August from 47.1 in July, the last regional manufacturing reading for the month. The ISM's national index is due to be released on Sept. 2.

The University of Michigan consumer sentiment index for August was revised lower to 58.2 from the preliminary estimate of 58.6 and was still well below July's reading of 61.7.

Michigan said that inflation expectations moved higher in August from July.

The Kansas City Fed's services index rose to 4 in August from minus 5 in July. Other regional services data already released have been mixed.

The Q3 GDPnow estimate from the Atlanta Fed is for a 3.5% gain, revised up from a 2.2% gain reported on Tuesday. The next update is scheduled for Sept. 2.

The Q3 GDPnow estimate from the St. Louis Fed is for a 0.54% gain, revised up from a 0.367% gain reported last week.