Consumer Spending Beats Expectations in June, Allaying Economic Fears

Consumer spending was robust in June, beating expectations after a disappointing first quarter stoked fears that the U.S. economy might be heading for a decline.  Retail sales increased 0.4 percent in June, surging past economists’ projections of a 0.1 percent increase, according to a Commerce Department report published Tuesday. Purchases of furniture, building materials, and motor vehicles, among other items, increased.