U.S. consumer spending rebounds, falling income a threat
Share:
WASHINGTON (Reuters) - U.S. consumer spending rebounded by the most on record in May, but the gains are not likely to be sustainable, with income dropping and expected to decline further as millions lose their unemployment checks starting next month. The report from the Commerce Department on Friday added to increases in homebuilding permits, industrial production and orders for manufactured goods in suggesting the economy was turning the corner after the stringent measures to control the..