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US consumer spending increases for second straight month in June

U.S. consumer spending increased for a second straight month in June, setting up consumption for a rebound in the third quarter, though the recovery could be limited by a resurgence in COVID-19 cases and the end of expanded unemployment benefits.
 
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 5.6% in June, after a record 8.5% jump in May as more businesses reopened.
 
Other data on Friday showed concerns about sky-rocketing coronavirus infections and the expiring jobless benefits hurt consumer sentiment in July.


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