US consumer spending up 8.2%, partly erasing record plunge

WASHINGTON (AP) — American consumers increased their spending by a sharp 8.2% in May, partly erasing record plunges the previous two months, against the backdrop of an economy that’s likely shrinking by its steepest pace on record this quarter. Last month’s rebound in consumer spending followed spending drops of 6.6% in March and 12.6% in […]