Consumer spending rises 1.9% in July
Floor Covering News
AUGUST 28, 2020
A newly released report from the Bureau of Economic Analysis (BEA) shows consumer spending in the U.S. rose 1.9%, or $267.6 billion, in July. While that’s down from spending in May and June—which grew 8.6% and 6.2%, respectively—analysts believe it represents positive movement nonetheless. “Retail sales rose strongly in July, and this comes on the heels of tremendous surges in May and June ,” said Brian Beaulieu, CEO and chief economist at ITR Economics, known for its spot-on economic forecastin
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