Markets

US consumer spending spiked a record 8.2% in May as personal incomes fell

US personal consumption expenditures jumped 8.2% in May following a record drop in April, according to a Friday report from the Commerce Department. Also in May, personal income declined 4.2%, the result of a decrease in government social benefits. Spending in vehicles, healthcare, and restaurants drove jumps in both goods […]
US consumer spending spiked a record 8.2% in May as personal incomes fell