Consumer Spending Falls in April
Washington, DC, May 31, 2013 -- Consumer spending fell in April by the largest amount in almost a year, according to the Commerce Department.
Spending dropped 0.2% last month on a seasonally adjusted basis, likely the result of weaker auto and energy spending.
Also, the increase in spending for March was revised down to 0.1% from 0.2%.
Personal income also ticked down, by less than 0.1% in April after a revised 0.3% gain in March.