the numbers consumer spending rose 05 in june in a sign of confidence in the economy as inflation eased again and the us continued to grow analysts polled by the wall street journal had forecast a 05 increase incomes advanced 03 in june the government said friday consumer spending is the main engine of the us economy households increased spending by a 16 annual pace in the second quarter running from april to june outlays have risen seven months in a row big picture a strong jobs market marked by low unemployment and rising wages have given americans the confidence to spend more than enough to keep the economy growing services such as dining out travel and recreation have especially benefited most economists predict spending will slow however as rising interest rates take a bigger bite out of the economy whether that’s enough to eventually tip the us into recession is far from clear market reaction the dow jones industrial average djia and sp 500 spx were set to open higher in friday trades