BY TOM OZIMEK American consumers spent more than expected in July, reinforcing expectations for a sharp rebound in economic growth in the third quarter, as consumer spending accounts for around 70 percent of U.S. gross domestic product. Consumer spending grew by 1.9 percent, according to a report from the Commerce Department released Friday, beating expectations of economists polled by Reuters, who forecast a … Continue reading Consumer Spending Rises in July, Fueling Hopes for Sharp Economic Recovery