WASHINGTON (Reuters) – U.S. consumer spending increased for 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.
The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 5.6% last month after a record 8.5% jump in May as more businesses reopened.
Economists polled by Reuters had forecast consumer spending advancing 5.5% in June.
(editing by John Stonestreet)
