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
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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 Department said on Wednesday that consumer spending, which accounts for more than two-thirds of US economic activity, increased 0.4 per cent last month, pointing to an acceleration in economic growth in the second quarter.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
