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US consumer spending steady in June

US consumers in June continued to spend faster than they earned while inflation slowedUS consumers in June continued to spend faster than they earned while inflation slowed, according to official data released Tuesday. American consumers shelled out an additional 0.4 percent, or $53 billion more than they had in May, while their disposable personal incomes had risen by only $24.6 billion, or 0.2 percent, according to the Commerce Department. June’s rise in personal income largely reflected rising wages and non-farm proprietors’ income, the Commerce Department’s Bureau of Economic Analysis said in a statement.

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