Canadian GDP, U.S. personal income both rise

(July 31, 2012) -- Canada's May 2012 gross domestic product increased a smaller than expected 0.1 percent in the month that was down from a 0.3 percent gain recorded in April. U.S. personal income spurted by 0.5 percent in June, which was the fastest gain in three months, said Desjardins. Disposable income rose by 0.4 percent and, combined with the flat reading for spending, pushed the savings rate up to 4.4 percent.