Consumer spending in U.S. rose 0.4% in May, income growth cooled

WASHINGTON - Consumer purchases moderated last month after the biggest advance since August 2009 as American households realigned outlays with slower income growth. Personal spending climbed 0.4 percent in May after a 1.1 percent jump a month earlier that was more than initially estimated, Commerce Department figures showed Wednesday in Washington. Incomes climbed a less-than-forecast…

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