Modest rise in American consumer spending
Source: Agencies |
June 2, 2012, Saturday
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Print Edition
Print Edition
UNITED States consumer spending edged up modestly in April but personal income growth was the slowest in five months, raising concerns about the ability of Americans to keep spending in the future.
Consumer spending increased 0.3 percent in April following a revised 0.2 percent gain in March, the US Commerce Department said yesterday. Americans' income grew 0.2 percent in April, the poorest showing since incomes fell 0.1 percent in November. The April gain was just half the 0.4 percent March rise.
Consumer spending accounts for 70 percent of economic activity. Economists hope consumers will keep spending to support further growth. But the concern is that incomes have been lagging in this sub-par recovery, meaning households have less to spend. The small April income gain will add to those worries.
Consumer spending increased 0.3 percent in April following a revised 0.2 percent gain in March, the US Commerce Department said yesterday. Americans' income grew 0.2 percent in April, the poorest showing since incomes fell 0.1 percent in November. The April gain was just half the 0.4 percent March rise.
Consumer spending accounts for 70 percent of economic activity. Economists hope consumers will keep spending to support further growth. But the concern is that incomes have been lagging in this sub-par recovery, meaning households have less to spend. The small April income gain will add to those worries.
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