U.S. Consumers Lose Steam

Inflation-adjusted spending was little changed in May and has essentially stalled since February, setting up the economy for a substantial slowdown.

By Molly Smith & By Reade Pickert | June 30, 2023 at 02:11 PM

Photo: Pedestrians carry shopping bags in San Francisco on May 18, 2022.

U.S. consumer spending—the economy's main engine—has lost steam for most of this year, portending weaker growth ahead while also helping to cool inflation.

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