Consumer spending tops forecasts

NEW YORK - Consumer spending stayed strong in August, despite the problems in mortgage and real estate markets that some feared would put a brake on Americans' willingness to open their wallets, according to a government report issued Friday. Spending by consumers rose 0.6 % in August, an improvement from the 0.4 % rise in July. Economists surveyed by Briefing.com had forecast another 0.4 % rise in August. The solid gain in spending came even as individuals' incomes rose by only 0.3 % in August, down from the 0.5 % rise in July. That was a bit weaker than economists' forecast of a 0.4 % rise in income in the period.