US Consumer Spending Up 5.6%, But Virus Could Stall Gains

WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy.

But the virus’ resurgence in much of the country could impede further gains.

Last month’s rise in consumer spending followed a seasonally adjusted 8.5% surge in May after spending had plunged the previous two months when the pandemic shuttered businesses, caused tens of millions of layoffs and sent the economy into a recession.

About Justin Saunders

Justin Saunders has nearly 10 years of experience in radio, television, online and newspaper journalism across the US and Canada. Justin joined the CapeCod.com NewsCenter in May 2014 and continues to help provide coverage of the Cape and Islands.



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