Economy: July 6, 2001
Consumer spending rose 0.5 percent to $8.63 trillion in May, following an uptick in April, helping to keep analysts hopeful that the U.S. will avoid a recession in 2001; spending on big-ticket items such as cars and appliances rose 1.2 percent in May, while spending on non-durable goods such as clothing and food rose 0.5 percent.
