US Consumer
Spending Rose
Moderately in May Increased household
spending on vehicles,
restaurants and hotels
amounted to 0.4%. Consumer prices
in May also
rose slightly. Both sets of data
point to a slowing in
economic growth. They could motivate
the Federal Reserve
to cut interest rates
next month. The Fed cites growing trade
tensions and low inflation
as signals for a possible
July interest rate cut. Wages in May
gained 0.2% Personal income in May
buoyed consumer
spending with a 0.5% rise.