Consumer spending flat in June

— Consumer spending in the U.S. stagnated in June as Americans used the biggest gain in incomes in three months to boost savings, indicating a weak handoff to the second half of the year.

Household purchases, which account for about 70 percent of the economy, were unchanged after a 0.1 percent decrease the prior month that was previously reported as little changed, a Commerce Department report showed Tuesday in Washington. The median estimate in a Bloomberg News survey of economists called for a 0.1 percent rise. Incomes rose 0.5 percent, lifting the savings rate to 4.4 percent, the highest in a year.

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