Us Consumer Spending In April Weakest In 3 Months

WASHINGTON (AP) — U.S. consumer spending in April posted the weakest performance in three months, but a solid gain in income growth should help boost spending in the future. The flat reading for consumer spending in April had been expected given weakness previously reported in retail sales and auto sales for the month. The weakness in April, the first month in the new quarter, reflected big declines in spending on both durable goods such as autos and nondurable goods such as clothing and food. Economists believe consumers will start spending the savings they have accumulated from the big drop in gas prices.

Topics:  washington ap     u.s   economists   april   weakest   months   sales   goods   big   weakness   
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