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Economic Report: Consumers boost spending in May as incomes rise and inflation stays low

Bloomberg News/Landov
Consumer spending rose at a healthy pace in May for the third month in a row.

The numbers: Consumer spending rose at a healthy clip in May for the third month in a row, suggesting the U.S. economy is still on solid ground even as growth has waned.

Consumer spending increased 0.4% last month, the government said Friday.

That’s a tick below the MarketWatch forecast, but the increase in spending in April was doubled to 0.6% from 0.3%, revised figures show.

Incomes advanced 0.5% for the second month in a row to help support higher household spending.

Inflationary pressures, meanwhile, remained quite low.

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