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
Sat, May 30, 2020 - 5:50 AM
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.
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.