“U.S. consumer spending rises for second straight month, income drops further”
August 3, 2020
“The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 5.6% last month after a record 8.5% jump in May as more businesses reopened. Consumers stepped up purchases of clothing and footwear. They also spent more on healthcare, dining out and on hotel and motel accommodation.
Economists polled by Reuters had forecast consumer spending would advance 5.5% in June. When adjusted for inflation, consumer spending increased 5.2% last month after surging 8.4% in May…”
https://www.cnbc.com/2020/07/31/personal-income-and-spending-june-2020.html