The growth of consumer spending slowed in June, coming in under projections of economists, according to recent data from the Federal Reserve.
U.S. consumer spending increased solidly in June as households spent more on restaurants and accommodation, building a strong base for the economy heading into the third quarter, while inflation rose moderately.
U.S. retail sales for the month of June were $506.8 billion, an increase of 0.5 percent from the prior month and up 6.6 percent year-over-year, according to the Census Bureau.
The Massachusetts Division of Banks reports branch activity in June.
Confidence among employers in Massachusetts dipped in June to its lowest level since August 2017.
The auto industry had a strong month in June as consumers continued to purchase light trucks at a high clip. The seasonally adjusted sales rate for June was 17.47 million, up from 16.72 million one year ago.