Consumer Spending Falls Flat In May
WASHINGTON (UPI) — Consumer spending was flat in May for the first time since November 2011, the U.S. Commerce Department said Friday.
Spending was unchanged following a 0.1 percent rise in March and April and a 1 percent rise in February.
Incomes rose, but showed a decline in growth. Incomes in May rose 0.2 percent, matching the growth rate in April, which was half the income growth rate of February and March.
The figures indicate that hiring has stalled. In turn, consumer spending, which makes up about 70 percent of the gross domestic product, came in unchanged.
UPI - United Press International, Inc. Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.
Join the Discussion:
View Comments to “Consumer Spending Falls Flat In May”
Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.
Is there news related to personal liberty happening in your area? Contact us at email@example.com