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US consumer spending jumps in July

By Melissa Quinn
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US consumer spending jumps in July

Consumer spending in the United States surged in July, according to new data released Friday, suggesting American households are playing a crucial role in ensuring economic expansion continues.

A report from the Commerce Department found consumer spending increased 0.6% in July, following a 0.3% gain in June. Incomes, however, jumped 0.1% in July from June, the smallest gain in close to a year.

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