U.S. Consumer Spending Increases 1.9% in July

The U.S. Commerce Department is reporting that for the third month in a row U.S. consumer increased their spending. However, the July increase of 1.9%, was the smallest of the past three month increases. Indicating that the economy is still struggling to emerge from the impact of the COVID-19 pandemic, which has slowed the recovery and continues to keep nearly 27 million Americans jobless. The report also showed that income rose 0.4% in July, after two consecutive months of declines.

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