U.S. consumer spending, which accounts for more than two-thirds of the country's economic activity, rebounded 1% last month after dipping 0.1% in May, the Commerce Department said
Spending on goods rose 0.5%. Spending on long-lasting goods decreased 1.5%, reflecting a decline in motor vehicle purchases. Outlays on nondurable goods rose 1.8%.
People wearing protective masks shop at Macy's Herald Square following the outbreak of the coronavirus disease in the Manhattan borough of New York City, New York, U.S., December 26, 2020. REUTERS/Jeenah Moon/File Photo Households accumulated at least $2.5 trillion in excess savings during the pandemic. Record-high stock market prices and accelerating home prices are boosting household wealth. Wages are also rising as companies compete for scarce workers.
The economy is facing a shortage of workers, with a record 9.2 million job openings at the end of May. About 9.5 million people are officially unemployed. Lack of affordable child care and fears of contracting the coronavirus have been blamed for keeping workers, mostly women, at home. There have also been pandemic-related retirements as well as career changes.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
U.S. consumer spending rises strongly in June; inflation increasesU.S. consumer spending rose more than expected in June as vaccinations against COVID-19 boosted demand for travel-related services and recreation, but part of the increase reflected higher prices, with annual inflation accelerating further above the Federal Reserve's 2% target.
Leer más »
Household Spending Rose in June, Before Delta Variant UpswingU.S. households boosted spending last month, though the current increase in Covid-19 cases related to the Delta variant and higher inflation are injecting uncertainty into the economic outlook.
Leer más »
Chevron Posts Highest Profit in a Year as Oil Demand ReboundsThe U.S. oil company reported $3.1 billion in second-quarter profit, its strongest results in a year as the oil company was buoyed by months of higher commodity prices.
Leer más »
US consumers boost spending 1% as inflation remains highAmerican consumers increased their spending by 1% in June, a dose of energy for an economy that is quickly rebounding from the pandemic recession. At the same time, a key inflation barometer closely followed by the Federal Reserve surged 4% last month.
Leer más »
Consumers boost spending in June and spearhead U.S. economic recoveryFreed from most Covid restrictions Americans spent liberally in June on travel, vacations and other services they shunned during the pandemic. Consumer...
Leer más »
U.S. consumers ready and willing to spend more now than before Covid, Mastercard CFO saysAn 'aversion to cash' is leading to an increase in digital payments, Mastercard CFO Sachin Mehra told CNBC .
Leer más »