Consumer Spending Falls First Time in a Year
Washington, DC, May 30, 2014 -- Consumer spending declined a seasonally adjusted 0.1% in April, according to the Commerce Department.
It was the first decrease in a year. Consumers spent less on vehicles and utilities.
The previous month, spending jumped by a revised 1%, which was the largest increase since 2009.
Personal incomes rose 0.3% in April, the smallest gain of the year.