U.S. consumer spending posts largest gain in nearly six years

U.S. consumer spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was gathering momentum in the second quarter. The Commerce Department said on Thursday consumer spending increased 0.9 percent last month, the biggest gain since August 2009, after an upwardly revised 0.1 percent rise in April. The sturdy increases suggested households were finally spending some of the windfall from lower gasoline prices, and capped a month of solid economic reports.

U.S. consumer spending posts largest gain in nearly six years source: http://finance.yahoo.com/news/u-consumer-spending-posts-largest-124007806.html