Consumer spending in the United States up 0.1% in June

Consumers’ personal spending rose just 0.1% last June, the worst since February, the Commerce Department reported today.

The slight June growth in household consumption, which is considered the real engine of the US economy because it accounts for two-thirds of activity, was in line with analysts’ forecasts.

In its report, the government revised spending growth in May up from 0.1% initially estimated to 0.2%.

As for personal income, which includes all types of income in addition to wages, in June they remained stable compared to the previous month.

Economists had forecast personal income growth of 0.4% in June following a 0.3% increase in the previous month.

Meanwhile, the personal savings rate, which quantifies the level of savings as a percentage of disposable income, was 3.8% in June.

Between April and June, consumer spending in the US rose by 2.8% in the second quarter of the year, the government reported last week by publishing its first estimate of gross domestic product (GDP) period.

In the second quarter GDP grew at an annual rate of 2.6%, more than double the 1.2% registered in the previous period.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Resident rapper says he needed to feel loved by Puerto Rico

The Puerto Rican resident rapper, who last night filled the Hiram Bithorn Stadium in San Juan, said he felt loved by his countrymen something...

More than 700 Google employees reject a contract with the US for “rights abuses” of immigrants

More than 700 Google workers have joined and confronted the company through an open letter demanding that they not negotiate a contract with the...

Before the Cavaliers, Durant achieves the dream of proclaiming champion and MVP with the Warriors

The forward Kevin Durant with 39 points led the Golden State Warriors' winning and balanced attack that took 129-120 to the Cleveland Cavaliers in...

The White House affirms that the withdrawal of troops from Syria has begun

The White House said today that the withdrawal of its troops from Syria has begun, after President Donald Trump proclaimed the defeat of the...

Cabello says Trump recommends hydroxychloroquine because he is a shareholder in one of its manufacturers

The president of the National Constituent Assembly (ANC) of Venezuela, Diosdado Cabello, has assured this Thursday that the reason that the president of the...