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US Consumer Spending Rises, Brexit Casts Shadow on Outlook

U.S. consumer spending rose for a second straight month in May on increased demand for automobiles and other goods, but there are fears Britain's vote to leave the European Union could hurt confidence and prompt households to cut back on consumption. Wednesday's fairly strong report released by the Commerce Department pointed to an acceleration in economic growth in the second quarter. Still, economists worry that financial turbulence, following last Thursday's so-called...

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