National Post (Latest Edition)

U.S. CONSUMER SPENDING UP 0.6% , BEST IN 5 MONTHS

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Americans boosted their spending by 0.6 per cent in April, the biggest increase in five months, while a gauge of inflation remained at the Federal Reserve’s optimal level for a secondstra­ight month. The Commerce Department said Thursday that last month’s increase in consumer spending was the largest increase since a 0.7-per-cent rise last November. The gain is an encouragin­g sign that consumer spending is beginning to show life after nearly stalling out at the beginning of the year. Economists are hoping a revived consumer sector will support stronger growth in the current quarter. An inflation measure closely watched by the Fed rose by two per cent in April, compared with a year ago, the second month it has achieved the Fed’s target for inflation after years of chronicall­y low inflation.

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