US spending edges up

WASHINGTON: US consumer spending edged higher in June, capping a rebound in the second quarter from weak growth in the first months of the year, the Commerce Department reported on Monday. Consumer spending, which accounts for about 70 per cent of US economic activity, rose 0.2 per cent in June after a 0.7 per cent gain in May and a 0.3 per cent increase in April, the department said. For the April to June quarter, spending increased at an annual rate of 2.9 per cent, up from a 1.8 per cent pace in the first quarter.