Consumer Spending Grows by Just 0.1 Percent in May, Inflation Remains High
U.S. consumer spending stalled in May to the lowest growth rate this year as inflation remained elevated. Consumer spending or personal consumption expenditures (PCE) only rose by 0.1 percent in May, according to a June 30 news release (pdf) by the U.S. Bureau of Economic Analysis (BEA). This is the lowest growth rate so far in 2023, equal to that ...
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