U.S. Consumer Spending Rises Significantly
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monetary policyReuters
•US consumer spending picks up; inflation rises moderately in July
82% Informative
Consumer spending rose 0.5% last month after advancing by an unrevised 0.3% in June .
This implies that consumer spending maintained most of the momentum from the second quarter .
Consumer spending accounts for more than two-thirds of U.S. economic activity.
In the 12 months through July , the PCE price index increased 2.5% , matching June 's gain.
VR Score
94
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99
Neutral language
79
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formal
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English
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48
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short-lived
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