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Consumer spending rose 5.6% in June



US consumers increased spending by 5.6% in June, but they seem to have retreated since, holding back the economic recovery from the coronavirus outbreak.

The Department of Commerce’s June report noted the second month of higher spending after sharp falls in the spring during large-scale pandemic containment outages. The agency also noted that household incomes fell by 1.1% in June, which is a factor in the ability and willingness of Americans to spend money and help determine the path of the economy in the coming weeks and months.


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