Changes in Consumer Spending in April
A recent report from the U.S. Bureau of Economic Analysis says that, in April, personal income increased $ 89.3 billion, or 0.4% at a monthly rate, while consumer spending increased $ 152.3 billion, or 0.9%. Interestingly, the personal saving rate dropped slightly to 4.4% in April compared with 5% in March. Also, note the 26.9% drop in fuel spending thanks to higher gas prices.
Click here to read the full report at the BEA.
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