Fri, 01 Aug 2014 14:04:10 GMT
U.S. consumer spending jumps, inflation drops
The
Commerce Department reported today that U.S. consumer expenditure
grew for the fifth month in a row in June having jumped 0.4%.
Spending is being supported by the firm growth in income, which
increased 0.4% in June, owing to the recovering labour market.
Despite the gains in expenditure, inflation slipped in June.