The Commerce Department said consumer spending increased 0.3 percent from April to May to an annual rate of US$5.37 trillion. Incomes also went up 0.3 percent, to $6.77 trillion. The wage/spending stability will prompt the Federal Reserve Board to leave interest rates unchanged, handicappers say.
Consumer Spending, Earning
The Commerce Department said consumer spending increased 0.3 percent from April to May to an annual rate of US$5.37 trillion. Incomes also went up 0.3 percent, to $6.77 trillion. The wage/spending stability will prompt the Federal Reserve Board to leave interest rates unchanged, handicappers say.
