Consumer Spending Climbs As Consumer Sentiment Holds
U.S. consumer spending measured its largest increase
U.S. consumer spending measured its largest increase
Reuters
A gauge of U.S. consumer spending rose in July at its fastest pace in seven months, a sign of quicker economic growth that could strengthen the case for the U.S. Federal Reserve winding down a major economic stimulus program.
The latest economic news out today is a bit of a mixed bag. Consumer spending fell 0.2% in April from March, the first decline since May 2012. Economists were expecting an increase of 0.1%. Personal income was unchanged for the month, compared to expectations of a 0.1% advance.
