Consumer spending rises 0.3 pct in May
U.S. consumer spending rose as expected in May while personal income posted a larger than expected jump, a government report showed on Friday, as consumers spent government stimulus money.
Spending, which accounts for over 70 percent of U.S. economic activity, rose 0.3 percent in May after an upwardly revised flat reading the previous month. It was the first gain in spending since February, a Commerce Department report said.
(Reporting by Mark Felsenthal; Editing by Theodore d'Afflisio)
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