Consumer Spending in U.S. Rises by Most in Almost Six Years
U.S. Personal Spending Surges 0.9%, Boosted by Incomes
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Household spending climbed in May by the most in almost six years, buoyed by gains in incomes as the U.S. job market strengthened.
Purchases increased 0.9 percent, the biggest gain since August 2009, after rising 0.1 percent in April, Commerce Department figures showed Thursday in Washington. The median forecast of 75 economists in a Bloomberg survey called for a 0.7 percent advance. Incomes rose 0.5 percent for a second month.