31-07-2020 14:47 via ocregister.com

Consumer spending up 5.6%, but coronavirus could stall gains

By MARTIN CRUTSINGER | AP Economics Writer
WASHINGTON — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus’ resurgence in much of the country could impede further gains.
Last month’s rise in consumer spending followed a seasonally adjusted 8.5% surge in May after spending had plunged the previous two months when the pandemic sh
Read more »