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From Home Furnishing Business

U.S. Consumer Spending Climbs

U.S. consumer spending increased and inflation pushed higher in June, which could strengthen expectations of the Federal Reserve curtailing its bond purchases later this year.

The Commerce Department said on Friday consumer spending rose 0.5 percent, lifted by automobile purchases and higher gasoline prices. May's increase was revised down to 0.2 percent from a previously reported 0.3 percent.

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Source: CNBC



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