Consumer spending, the largest part of the US economy, is rising. That's a good sign for the economy. Household spending grew in June by 1.1%, up from a revised 0.3% increase in May, the Commerce Department reported on Friday.

That growth, however, could be the result of rising inflation. Overall, Americans are growing pessimistic about the economy.

The Conference Board Consumer Confidence Index decreased in July for the third straight month. About 43% of 3,000 respondents said they think there's a greater than 50% chance that the US will fall into a recession in the next 12 months, while just 13% said that in April.

Consumer spending, the largest part of the US economy, is rising. That's a good sign for the economy. Household spending grew in June by 1.1%, up from a revised 0.3% increase in May, the Commerce Department reported on Friday.

That growth, however, could be the result of rising inflation. Overall, Americans are growing pessimistic about the economy.

The Conference Board Consumer Confidence Index decreased in July for the third straight month. About 43% of 3,000 respondents said they think there's a greater than 50% chance that the US will fall into a recession in the next 12 months, while just 13% said that in April.