The Commerce Department said Wednesday that consumer spending increased 0.4 percent in May on top of a 1.1 percent surge in April. The economy grew at a lackluster 1.1 percent pace from January through March, partly because consumer spending grew just 1.5 percent, the slowest pace in two years. Spending on durable goods such as autos and appliances grew 0.6 percent, down from a 2.6 percent jump in April. Americans went shopping this spring, increasing their spending in May for the second straight month and delivering good news for economic growth. Economists expect growth to rebound to a pace of 2 percent or faster in the second quarter.

Source: ABC News June 29, 2016 12:32 UTC