Mexican Media Brands
U.S. Consumers Boost Spending
Spending by American consumers, which grew 0.2% year over year in May, rose 0.5% in June, according to the Dept. of Commerce.
#economics
Share
Spending by American consumers, which grew 0.2% year over year in May, rose 0.5% in June, according to the Dept. of Commerce.
Spending on durable goods climbed 0.8% in June, buoyed by strong auto sales. Consumption of non-durable goods advanced 1.3%, partly because of higher gasoline prices, the Commerce Dept. reports. Consumer spending accounts for 70% of the American economy.
U.S. personal income increased 0.3%. The savings rate slipped to 4.4% from 4.6% in May.
A related measure of prices, excluding food and energy which is the Federal Reserve's preferred inflation gauge rose 1.2% in June from a year earlier. The Fed's inflation target is 2%.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.