Here comes personal income and spending ...

The latest reading on personal income and spending is set for release at the bottom of the hour.

Expectations are for the report to show income and spending both rose 0.4% in July.

This report follows Thursday’s second estimate of second quarter GDP, which indicated that personal spending rose at a rate of 3.1% in the quarter, better than expected by economists.

Friday’s report will also include the latest personal consumption expenditures reading, a measure of inflation that on a “core” basis — which excludes the more volatile cost of food and gas — is expected to rise 1.3%.

We’ll be back with the live numbers when they hit.

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