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July 1st, 2012 
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Consumer Spending Stalls as Morale Plunges to Year’s Lowest Level
Money News – Consumer spending stalled in May as purchases of autos flagged while confidence dropped to a six-month low in June, the latest signs of trouble for the economy. Although another report on Friday showed manufacturing activity in the Midwest picked up this month, factories saw a modest decline in new orders. The Commerce Department said consumer spending was unchanged in May, failing to rise for the first time since November, after nudging up 0.1 percent the prior month. Consumer spending accounts for more than two-thirds of U.S. economic activity. Read article
Tags: 2nd Great Depression, North America
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