Weak auto demand crimps U.S. consumer spending
Reuters
U.S. consumer spending in June advanced at its slowest pace in four months as demand for automobiles softened, suggesting the economy lost some momentum at the end of the second quarter. But the moderation in consumer spending could be temporary as some automakers on Monday reported stronger-than-expected U.S. sales in July, which kept the industry on a pace for its best year in a decade.
Reuters
U.S. consumer spending in June advanced at its slowest pace in four months as demand for automobiles softened, suggesting the economy lost some momentum at the end of the second quarter. But the moderation in consumer spending could be temporary as some automakers on Monday reported stronger-than-expected U.S. sales in July, which kept the industry on a pace for its best year in a decade.