-
Consumer Keeps Looking Stronger as Other Parts of the US Economy Soften
The U.S. consumer keeps roaring ahead, even as investors worry about President Trump’s trade war against China. Consumer spending rose 4.7 percent between April and June, according to the Commerce Department’s gross domestic product (GDP). That was not only a big revision up from the initial 4.3 percent reading. It was also the largest gain since 2014. Consumer spending matters because it accounts for two-thirds of the U.S. economy. It’s grown slower this decade as Americans recovered from the financial crisis and younger workers struggle with student debt. However, the tide has turned since April as years of ... (full story)