WASHINGTON: US consumer spending rose slightly in July as incomes continued to grow at a steady pace, while underlying inflation remained tame, the Commerce Department reported on Friday. Consumer spending, which drives about 70 per cent of activity in the world’s largest economy, rose 0.3 per cent, following an upwardly revised 0.3 per cent gain in June. Personal income rose 0.4 per cent for the fourth straight month. Disposable income — income less personal taxes — increased 0.5 per cent in July. — AFP

UK economy grows

LONDON: Britain’s economy accelerated in the second quarter by 0.7 per cent compared with the previous three months, unrevised official data showed on Friday. The growth in gross domestic product between April and June compared with 0.4 per cent expansion in the first quarter of this year, the Office for National Statistics said in a statement. — AFP

Mugabe inks law

HARARE: Zimbabwean President Robert Mugabe has signed a new law banning mass lay-offs following a spate of redundancies that unions say put 30,000 people out of work, local media reported on Friday. — AFP