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Consumer spending appeared to pick up in June as more states lifted lockdown orders and businesses began to reopen, a rebound that came on the heels of increased purchasing in May, according to a new report by CO-OP Financial Services.
The total dollar amount of purchases in June increased 3% for credit card spending and 14% for debit transactions compared to last year, the analysis showed. Still, overall debit and credit purchases dipped 2% and 5%, respectively, from the same month in 2019.
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C. Ryan Barber
C. Ryan Barber, based in Washington, covers government affairs and regulatory compliance. Contact him at [email protected]. On Twitter: @cryanbarber
