CNN’s Matt Egan: Consumer Spending Increased By a Solid Amount in July

EGAN Nice to be ░░░░░░░░ on a summer Friday ░░░░░░░░ some good news right ░░░░░░░░ spending the engine of ░░░░░░░░ economy it increased by ░░░░░░░░ solid amount in July ░░░░░░░░ see 5 percent that ░░░░░░░░ exactly as expected and ░░░░░░░░ is a relief because ░░░░░░░░ were some concerns earlier ░░░░░░░░ year when we saw ░░░░░░░░ spending drop And consumer ░░░░░░░░ this is 70 percent ░░░░░░░░ the economic output so ░░░░░░░░ we did see those ░░░░░░░░ that did raise concerns ░░░░░░░░ consumers possibly being tapped ░░░░░░░░ and all this confusion ░░░░░░░░ the erratic trade Also ░░░░░░░░ we saw a an ░░░░░░░░ revision to June June ░░░░░░░░ a solid number and ░░░░░░░░ was revised even higher ░░░░░░░░ can see this is ░░░░░░░░ trend of monthly increases ░░░░░░░░ decreases for retail sales ░░░░░░░░ earlier this year again ░░░░░░░░ do see those concerning ░░░░░░░░ But now look at ░░░░░░░░ we have two straight ░░░░░░░░ of positive numbers.”