WASHINGTON (Sputnik) – US consumers increased spending in May 2015 after several months of sluggish growth, according to data released on Thursday by the US Department of Commerce.
“Personal consumption expenditures (PCE) increased $105.9 billion, or 0.9 percent,” the Commerce Department said.
The increase in personal consumption in May is the largest jump since 2009.
The increase follows several months of weak growth in 2015. In April, personal consumption growth amounted to 0.1 percent, while at the beginning of the year it was a negative 0.3 percent.
Personal consumption makes up nearly 70 percent of US Gross Domestic Product, according to Federal Reserve data, making it a key driver of economic growth.
