Personal Spending Rises in June

Personal spending rose 0.5% in June, the Commerce Department reported Friday.

The increase followed a 0.2% rise in May that was less than previously reported.

The rise in June spending matched economists’ forecast, Bloomberg News reported.

Personal incomes increased 0.3%. Economists’ had forecast a 0.4% rise in incomes, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.