Personal Spending Declines for First Time in Nearly Two Years

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Consumer personal spending decreased for the first time in nearly two years in June, the Commerce Department said Tuesday.

Personal spending slipped 0.2%, following a 0.1% gain in May.

The June decline compared with economists’ forecasts of a 0.1% increase, Bloomberg reported. Personal incomes rose 0.1%, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.



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