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Consumer Spending Rises as Incomes Fall, Giving Mixed Picture of Economic Recovery

Consumer Spending Rises as Incomes Fall, Giving Mixed Picture of Economic Recovery

BY TOM OZIMEK American consumers increased their spending by 5.6 percent in June while personal income fell by 1.1 percent, giving a mixed picture of a U.S. economy struggling to sustain recovery momentum amid a surge of reported COVID-19 cases and lackluster jobs data. Consumer spending is a major driver of the U.S. economy, accounting for around 70 percent of […]

Year in Review: Strong Job Market and Consumer Spending Boost Economy as 2019 Wraps Up

Year in Review: Strong Job Market and Consumer Spending Boost Economy as 2019 Wraps Up

BY TOM OZIMEK   The economy is finishing the year in stronger shape, thanks in part to resilient consumers and a healthy job market. With near-record low unemployment and solid wage growth, the U.S. labor market is expected to continue to underpin consumer spending and the economy. The Commerce Department said Friday that the total output of goods and services, […]