Auto sales crimp U.S. consumer spending; inflation muted

U.S. consumer spending in June advanced at its slowest pace in fourth months as demand for automobiles softened, suggesting the economy lost some momentum at the end of the second quarter. Consumer spending rose 0.2 percent after a downwardly revised 0.7 percent increase in May, the Commerce Department said. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, was previously reported to have advanced 0.9 percent in May.