July 31, 2020

US consumption, prices rose in June before virus surge

Washington (AFP) – Americans ramped up spending again in June and prices inched higher following the collapse caused by COVID-19, but the data released Friday reflect the time before cases began to resurge.Personal consumption expenditures (PCE) rose 5.6 percent last month, after gaining 8.5 percent in May, the Commerce Department reported, and the PCE price index rose 0.4 percent compared to the prior month.The data, which already were incorporated into the historic 32.9 percent plunge in second quarter GDP reported Thursday, also showed what many hoped would be the start of a recovery after …

source https://this.kiji.is/en/661923754057778273?c=648607265489716321

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