The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 8.2% last month. That was largest increase since the government started tracking the series in 1959. Consumer spending tumbled by a historic 12.6% in April.Economists polled by Reuters had forecast consumer spending rising 9.0% in May. The surge in spending last month reflected the reopening of many businesses after being shut in mid-March to control the spread of COVID-19.
Consumers stepped up purchases of motor vehicles and recreational goods. They also boosted spending on healthcare, and at restaurants, hotels and motels.But personal income dropped 4.2%, the most since January 2013, after surging by a record 10.8% in April when the government handed out one-time $1,200 checks to millions of people and boosted unemployment benefits to cushion against the COVID-19 hardship.The payments are part of a historic fiscal package worth nearly $3 trillionคำพูดจาก เกมสล็อต. The drop in income last month reflected a decrease in government welfare payments related to the pandemic.The government will stop paying an additional $600 per week in unemployment benefits on July 31.Consumer spending in May was funded from savings, pushing the saving rate down to a still-high 23.2% from a record 32.2% in April.Inflation remained weak last month, with the personal consumption expenditures (PCE) price index excluding the volatile food and energy components edging up 0.1% after falling 0.4% in April. In the 12 months through May, the so-called core PCE price index rose 1.0%, matching April’s gain.The core PCE index is the Federal Reserve’s preferred inflation measureคำพูดจาก สูตรสล็อต pg. The U.S. central bank has a 2% inflation target.