Solid job growth is finally boosting paychecks for the rest of us.
The Commerce Department releases its May report on consumer spending, which accounts for 70 percent of economic activity, at 8:30 a.m. Eastern Thursday.
The U.S. economy contracted in the first three months of the year, just not as much as previously estimated.
Federal Reserve policy makers meet next week but they will not raise interest rates, nor will they make it any clearer to investors when exactly they plan on raising rates.
Americans stepped up their spending at retailers in May, especially for autos, clothes and building materials, in a sign that strong job growth has begun to boost store sales.
The highlight of next weekâ€™s economic calendar is consumer data and an important gauge of inflation.
It takes some digging, but inflation data released Friday supports forecasts that the Federal Reserve will start lifting interest rates later this year.