Market to Market

Economic Outlook: July 30, 2021

Jul 30, 2021  | Ep4650

After being stuck inside for more than 15 months, it’s clear that consumers have returned to their previous buying habits.--

Consumer spending increased one percent in June helping push back against the pandemic-fueled recession.

Orders for durable goods moved 0.8 of one percent higher last month as more purchases were made for cars, computers and consumer electronics.

When the purchases of cars and airplanes are removed, new orders increased 0.3 of one percent.

Overall, the U.S. economy grew at a solid 6.5 percent annual rate last quarter, largely driven by vaccinations and government aid.--

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