Consumers pulled back on spending in May, but inflation stayed in check

By: U.S. consumer spending declined in May by the most since the start of the year, indicating elevated uncertainty around the Trump administration’s economic policies is increasingly weighing on the outlook for growth.Personal consumption expenditures fell 0.3% after adjusting for inflation, according to Bureau of Economic Analysis figures published Friday. The Federal Reserve’s preferred inflation…

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217 acres of desert near Scottsdale Road and Loop 101 just sold. What will be built?

Minnesota-based Mortenson Co. purchased 217 acres of state land in northeast Phoenix for $136 million.Mortenson plans to develop a mixed-use corporate campus on the site.The sale proceeds will benefit Arizona’s K-12 schools, universities, and other state programs.State land in northeast Phoenix, where the now-defunct Arizona Coyotes once hoped to build a new arena, was sold…

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