Consumer spending in US up 0.2%
Print Edition
US consumers lifted their spending modestly in May, disappointing economists who said the surprisingly weaker gain will mean a lesser economic rebound in the April-June quarter than many had hoped.
Spending rose just 0.2 percent last month after no gain in April, the Commerce Department said yesterday. The two months followed a robust spending surge of 0.8 percent in March.
Income rose 0.4 percent in May after a 0.3 percent April gain.
Last month’s 0.2 percent gain in spending was just half the increase that analysts had been hoping. Some said that unless June brings a big gain, spending may not offer as much support to the economy in the second quarter of the year as they had been expecting.
Paul Dales, senior US economist at Capital Economics, said consumer spending may rise 1.7 percent yearly in the quarter.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
