Home » NEWS » Consumer spending, personal incomes stall

Consumer spending, personal incomes stall

WASHINGTON — The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economy slowed significantly in the spring.

The Commerce Department say personal spending was unchanged in June, the third straight month of lackluster consumer demand. Incomes were flat as well, the weakest showing in nine months.

The lack of growth for spending and incomes shows the economy ended the second quarter on a weak note. Many analysts believe growth will slow further in the second half of the year as high unemployment, shaky consumer confidence and renewed troubles in housing weigh on the year-old economic recovery.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *

*