Consumer spending rises again — and now cheaper gas is on the way

Consumer spending rose faster than inflation in May, supporting U.S. economic growth. Oil prices have fallen close to prewar levels as peace talks with Iran ease supply-risk concerns, which is a potential tailwind for consumers and inflation. The combination is modestly positive for the macro outlook and energy-sensitive markets.

Analysis

Consumer spending rose faster than inflation in May, supporting U.S. economic growth. Oil prices have fallen close to prewar levels as peace talks with Iran ease supply-risk concerns, which is a potential tailwind for consumers and inflation. The combination is modestly positive for the macro outlook and energy-sensitive markets.