Consumer spending rose slightly in June for the second month in a row, according to a report released today by the U.S. Department of Commerce.
Consumer spending increased $41.4 billion, or 0.4 percent in June. In May, consumer spending increased $9 billion, or 0.1 percent, based on revised estimates.
Spending increased despite a decline in personal income. In June, personal income declined $159.8 billion, or 1.3 percent, and disposable personal income decreased by $143.8 billion, or 1.3 percent.
In May, personal income increased $155.1 billion, or 1.3 percent, and disposable income increased $168.7 billion, or 1.6 percent.