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Consumer Spending Rose 5.6% in June

Consumers stepped up spending for the second straight month in June but fresher evidence shows households recently pulled back as coronavirus infections rose, suggesting the U.S. economy is destined for a choppy ride ahead. Evidence is building that the recovery will be halting and slow rather than the V-shaped rebound that some economists had earlier…

Consumers stepped up spending for the second straight month in June but fresher evidence shows households recently pulled back as coronavirus infections rose, suggesting the U.S. economy is destined for a choppy ride ahead.

Evidence is building that the recovery will be halting and slow rather than the V-shaped rebound that some economists had earlier projected. A day after reporting the sharpest quarterly economic contraction on record, the government said Friday households boosted spending a healthy 5.6% in June. The increase—reflecting…

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