Arab Today, arab today us consumer spending falls in april
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

US consumer spending falls in April

Arab Today, arab today

Arab Today, arab today US consumer spending falls in April

Washington - AFP

US consumer spending fell in April as incomes dipped fractionally, the Commerce Department said Friday in a report pointing to weakening economic growth. Consumer spending, the key driver of the world\'s largest economy, dropped by 0.2 percent, following a 0.1 percent rise in March. Personal income was down less than 0.1 percent, essentially flat, after a 0.3 percent gain in the prior month. But disposable personal income -- income less current taxes -- fell 0.1 percent after March\'s 0.2 percent rise. The personal savings rate was unchanged from March at 2.5 percent. The price index for personal consumption expenditures, watched by the Federal Reserve to assess inflation, dropped 0.3 percent, following a 0.1 percent dip in March. The core PCE price index, excluding food and energy, was flat, dipping less than 0.1 percent compared with an increase of 0.1 percent the prior month.

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