Consumer spending in US shows biggest gain in nearly six years
Higher stock, home prices lift household wealth; rise in employment helps boost spending
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Washington
HOUSEHOLD spending climbed in May by the most in almost six years, buoyed by gains in incomes as the US job market strengthened.
Purchases increased 0.9 per cent, the biggest gain since August 2009, after rising 0.1 per cent in April, Commerce Department figures showed on Thursday in Washington. The median forecast of 75 economists in a Bloomberg survey called for a 0.7 per cent advance. Incomes rose 0.5 per cent for a second month.
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