U.S. con­sumer spend­ing slows

The News-Times - - BUSINESS -

Con­sumer spend­ing slowed in April while inflation was up, but still far below the tar­get set by the Fed­eral Re­serve. The Com­merce Depart­ment said Fri­day that spend­ing in­creased 0.3 per­cent in April fol­low­ing a 1.1 per­cent surge in March that had been the largest in­crease in nearly a decade. Per­sonal in­come growth, which had been lag­ging in re­cent months, jumped 0.5 per­cent in April. Inflation, as mea­sured by a gauge tied to con­sumer spend­ing, in­creased 1.5 per­cent in April com­pared with a year ago, up slightly from a 1.4 per­cent 12-month change in April.

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