US consumers paid little notice to share market turbulence in August to rack up another month of higher consumer spending. The Bureau of Economic Analysis released consumer spending figures showing a 0.4% increase in August, slightly more than the 0.3% expected and up from the July figures which were revised up from 0.2% to 0.3%. Personal income figures were also released and they showed a 0.3% increase for August, down from July’s number of 0.4% but in line with market expectations. A falling unemployment rate, lower oil prices and a slightly lower rate of savings are thought to be behind the latest increase. An estimated two thirds of US GDP comes from personal consumption and the latest figures have led some financial institutions such as Morgan Stanley to raise their US growth estimates.