U.S. Household Spending, Income Rose at Solid Rate in June
“U.S. households’ incomes and spending both rose at a solid rate in June, indicating consumers have the capacity to drive gains in economic output. Personal-consumption expenditures, a measure of household spending on everything from hospital stays to groceries, increased a seasonally adjusted 0.4% in June from the prior month, the Commerce Department said Tuesday. Spending was also revised up in May, to a 0.5% gain from 0.2%, and April, to a 0.6% increase from 0.5%.”