Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
U.S. consumer spending rose at its fastest pace in five months in July, backing views the economy was not falling back into recession, although pending sales of previously owned homes fell. The Commerce Department said on Monday consumer spending increased 0.8 percent on strong demand for motor vehicles, after slipping 0.1 percent in June. [Tribune]