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U.S. consumer spending takes a breather in May

Kitco News

WASHINGTON, June 25 (Reuters) - U.S. consumer spending was unchanged in May, likely as shortages hurt purchases of goods like motor vehicles, but the supply constraints helped to boost inflation.

The Commerce Department said on Friday that the unchanged reading in consumer spending, which accounts for more than two-thirds of U.S. economic activity, followed an upwardly revised 0.9% jump in April. Consumer spending was previously reported to have increased 0.5% in April.

Reporting by Lucia Mutikani Editing by Chizu Nomiyama
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