Consumer Spending Weakens In May, Another Red Flag for US Economy

Shoppers leave a Nordstrom store in Chicago, on May 26, 2021. Scott Olson/Getty Images

U.S. consumer spending in May was lower than anticipated, while rising prices reduced consumer spending, according to the U.S. Bureau of Statistics’ personal consumption expenditures index (PCE) released on June 30.

Consumer spending accounts for more than two-thirds of U.S. economic activity.