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US Consumer Spending Rose Moderately in May

Video Credit: Wibbitz Top Stories - Duration: 00:55s - Published
US Consumer Spending Rose Moderately in May

US Consumer Spending Rose Moderately in May

US Consumer Spending Rose Moderately in May Increased household spending on vehicles, restaurants and hotels amounted to 0.4%.

Consumer prices in May also rose slightly.

Both sets of data point to a slowing in economic growth.

They could motivate the Federal Reserve to cut interest rates next month.

The Fed cites growing trade tensions and low inflation as signals for a possible July interest rate cut.

Wages in May gained 0.2% Personal income in May buoyed consumer spending with a 0.5% rise.

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