U.S. consumer spending increase strongest in over six years

U.S. consumer spending recorded its largest increase in more than six years in April as households boosted purchases of automobiles hinting an acceleration in economic growth that could persuade the Federal Reserve to soon raise interest rates Other data on Tuesday showed an ebb in consumer confidence in May but spending is likely to remain strong due to strong gains in house prices and a strengthening labor market Last month’s increase was the largest since August 2009 and beat economists’ expectations for a 0.7 percent rise