July marked the 3rd consecutive increase in monthly spending — but gains were smaller than in May and June. Economists warn spending may suffer in August now that supplemental unemployment benefits of $600 a week have expired.
People eat in an outdoor dining area in New York City's Chinatown on Aug. 10. Economists warn spending may suffer this month.People eat in an outdoor dining area in New York City's Chinatown on Aug. 10. Economists warn spending may suffer this month.Americans spent more money on cars, health care and eating out last month than they did in June. TheConsumer spending is a major driver of the U.S. economy, and it continues to recover from itsthis spring.
Economists warn spending may suffer in August now that supplemental unemployment benefits of $600 a week have expired. Those benefits were boosting Americans' cumulative spending power by about
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