U.S. consumer spending rises, incomes fall sharply

The Commerce Department says consumers boosted their spending 0.4 percent, slightly ahead of analysts' estimates. That comes after spending rose 0.1 percent in May.
AUG 04, 2009
Consumers increased their spending in June for the second straight month, even as incomes fell sharply. The Commerce Department says consumers boosted their spending 0.4 percent, slightly ahead of analysts' estimates. That comes after spending rose 0.1 percent in May. The department says personal income fell 1.3 percent after rising by the same amount in May, when incomes were boosted by one-time payments from the Obama administration's stimulus package. Economists expected personal incomes, the fuel for future spending, to fall 1 percent. Consumer spending is closely watched because it accounts for about 70 percent of total U.S. economic activity.

Latest News

Investor anxiety hits six-year high amid market turmoil, Allianz finds
Investor anxiety hits six-year high amid market turmoil, Allianz finds

New survey reveals heightened investor concern over market volatility, retirement readiness, and the impact of tariffs on living costs.

Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints
Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints

Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.

RIA moves: The Mather Group, Brand Asset Management announce deals
RIA moves: The Mather Group, Brand Asset Management announce deals

Consolidation continues in US wealth management industry.

US broker-dealer fintech aims for global footprint as it acquires international firm
US broker-dealer fintech aims for global footprint as it acquires international firm

Tech company democratizes access to US trading infrastructure.

Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel

RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.