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Containers are seen at the Yangshan Special Comprehensive Bonded Area in Shanghai, China on March 18, 2020. [Photo/Xinhua]
Congress is expected to debate the continuation of an extra 0 in weekly jobless benefits scheduled to expire at the end of July. The money, which is in addition to unemployment benefits provided by the states, was included in the .8 trillion Coronavirus Aid, Relief and Economic Security Act (CARES) US President Donald Trump signed into law in March.
Consumers usually spend more, and companies can fund operations, expansions and acquisitions at lower rates, boosting future earnings. That leads to higher profits and rising stock prices.
Consumer spending was robust in the first half of the year, contributing 78.5 percent to the country's economic growth, up 14.2 percentage points from same period a year earlier, according to the Ministry of Commerce.
Contact the writer at chenweihua@chinadailyusa.com
