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Consumer Spending in U.S. Rose in June by Most in Three Months
Consumer spending in the U.S. rose in June by the most in three months, ending the quarter on a strong note and signaling that continued job growth will bolster the world’s largest economy. Household purchases, which account for about 70 percent of the economy, climbed 0.4 percent after a 0.3 percent gain in May that was larger than previously estimated, Commerce Department figures showed today in Washington. The increased matched the median forecast of 74 economists in a Bloomberg survey. Incomes also advanced 0.4 percent. A strengthening job market is supporting consumer confidence and giving households the means ... (full story)