Pause in U.S consumer spending won't last-analysts

Newswire

By Victoria Thieberger NEW YORK, July 30 (Reuters) - Consumer spending should pick up again in coming months as the job market improves and incomes rise, after Americans uncharacteristically turned frugal in the second quarter, economists say. High oil prices bore much of the blame for the unexpectedly modest 1.0 percent increase in consumer spending in the quarter ended in June, the weakest pace since the 2001 recession. It was around half of Wall Street's expectations. "Income ...

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