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Consumer Spending Pauses in July | Flint News
Consumer spending stalled in July when adjusted for inflation, marking a slowdown from June’s uptick — driven by persistent high prices. The Fed’s key inflation gauge rose 0.2% monthly, keeping the annual rate at 3.7%, slightly higher than expected. Even core inflation (excluding food and energy) edged up, while savings rebounded to 3% thanks to strong income gains. Spending on goods dipped, except for restaurants, partly due to Amazon Prime Day shifting to June. Despite the pause, economists remain upbeat, citing rising business investment as a sign of solid Q3 growth ahead. Listen in…
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