Thursday, May 31, 2018

U.S. consumer spending accelerates; weekly jobless claims fall

U.S. consumer spending increased more than expected in April, a further sign that economic growth was regaining momentum early in the second quarter, while inflation continued to rise steadily.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 0.6 percent last month, the biggest gain in five months, the Commerce Department said. That followed a 0.5 percent increase in March.. . . more