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LATEST US DATA

May consumer spending up for second month

Demand for vehicles and other goods rises, but there are also fears that Britain's vote to leave the EU could hurt confidence and prompt households to cut back on consumption

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The Commerce Department says consumer spending, which accounts for over two-thirds of US economic activity, rose 0.4% last month, pointing to an acceleration in economic growth in Q2.

Washington

US consumer spending rose for a second straight month in May on increased demand for vehicles and other goods, but there are fears that Britain's vote to leave the European Union could hurt confidence and prompt households to cut back on consumption.

The Commerce

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