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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
Published Wed, Jun 29, 2016 · 09:50 PM
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.
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