After announcing last Friday the nearly 33% drop in real gross domestic product 2Q-20, the Commerce Dept. released June consumer spending numbers. Sales rose 5.6% seasonally adjusted at an annual rate. Spending was particularly strong for products and service most impacted by the closures and reopenings, including restaurants, travel, medical care and clothing. But more…
US Consumer Spending Increased In June But More Recent Data Shows Spending Slowed In July
