Skip to comments.US Consumer Spending Down 0.1 Percent in April
Posted on 05/30/2014 6:47:48 AM PDT by John W
U.S. consumers cut back on spending in April for the first time in a year, taking an unexpected pause after a big jump during the previous month. The results, however, are unlikely to derail an expected spring rebound in the economy.
Consumer spending, which accounts for 70 percent of overall economic activity, fell 0.1 percent in April, the Commerce Department said Friday. The drop was the first in 12 months. But it followed a 1 percent surge in spending in March, which marked the biggest increase in more than four years.
The latest figure reflects reductions in durable goods purchases such as autos and in services such as heating bills.
Income rose 0.3 percent in April after a 0.5 percent March gain.
(Excerpt) Read more at abcnews.go.com ...
b..b.but...it was the weather. January was the coldest ever in the galaxy, and February saw hell buying heaters.
So, April was just thawing out.
And Bush...it’s Bush’s fault. I’m sure.
It can’t be because part-time workers run out of money faster than full time workers.
I’ve stopped spending frivolously. And I’m likely to pare it down even more. I know plenty of others doing the same.
More “fun with numbers.”
This is going to continue for some time. I believe food prices are having an impact. I know they are in my home. (I just cut our land line to soften the impact & we cut a weekend vacation we had planned). Also, higher deductibles and health insurance rates are pulling money out of peoples pockets.
I almost laughed at hearing this news this morning. The ABC News anchor left it until the end, said it real fast and then said, “This has been ABC News!”
Talk about a Friday news dump!