Aug 3, 2015

Consumer spending slows down during June

The Department of Commerce reported a rise in consumer spending during June, but at a slightly lower rate than the previous month, reports the Wall Street Journal.

Consumer spending rose by 0.2 percent during June, down from a 0.7-percent increase in May. The information comes from the Department of Commerce’s second-quarter report.

The WSJ speculated a lackluster increase in wage growth may be contributing to the cooling in spending habits. Read more here.