· US personal consumption expenditures jumped 8.2% in May following a record drop in April, according to a Friday report from the Commerce Department.
· Also in May, personal income declined 4.2%, the result of a decrease in government social benefits.
· Spending in vehicles, healthcare, and restaurants drove jumps in both...
US consumer spending spiked a record 8.2% in May as personal incomes fell
Business Insider
0 shares
2 views
You might like
Related news coverage
Dow falls 730 points as investors weigh surge in COVID-19 cases
Business Insider
· *US stocks fell on Friday as spiking coronavirus cases threaten to slow economic reopenings.*
· *Bank stocks slumped after..
Advertisement
More coverage
US banks have seen a record $2 trillion surge of deposits since the coronavirus crisis began
Business Insider
**
· *US bank deposits have grown by a record $2 trillion since January, when the coronavirus pandemic first hit the..