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U.S. consumer spending fell in May for the first time this year and prior months were revised lower, suggesting an economy on somewhat weaker footing than previously thought amid rapid inflation and Federal Reserve interest-rate increases.
Roundup: U.S. Fed's closely watched inflation measure surges in May-
WASHINGTON, July 1 (Xinhua) -- The U.S. manufacturing sector saw slower growth in June amid continued supply chain bottlenecks, the Institute for Supply Management (ISM) reported Friday.
U.S. manufacturing sector expands slower in June amid contraction in new orders-
US consumer spending fell in May for the first time this year and prior months were revised lower, suggesting an economy on somewhat weaker footing than previously thought amid rapid inflation and Federal Reserve interest-rate hikes.