Personal Income Outpaces Spending

Americans’ personal income galloped ahead faster than spending in June, the government said Friday. New home sales, meanwhile, rose 3.1 percent as buyers rushed to beat slowly rising mortgage rates.

The reports, analysts said, reflected a healthy U.S. economy, including benign inflation. But jitters on Wall Street continued.

Neither of the government reports was expected to cause new alarm bells at the Federal Reserve, which nudged up interest rates June 30 in a pre-emptive strike against inflation.