You are here

LATEST US DATA

US consumer spending falls by 13.6% in April, a new low

Inflation was also weak, with the personal consumption expenditures price index at its weakest since Sept 2001

BT_20200530_NAHUSDATA30A_4131659.jpg
Consumer spending was tamped down by a drop in healthcare spending (with dental offices shut and elective surgery delayed) and a decrease in dining out.

Washington

US CONSUMER spending suffered another month of record decline in April as the Covid-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression.

Inflation was also weak in...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes