Consumer Spending Up 0.3 Percent In April
June 1, 2012 by UPI - United Press International, Inc.
WASHINGTON (UPI) — Consumer spending rose 0.3 percent in April, one tick higher than March’s downwardly revised 0.2 percent, the U.S. Commerce Department said Friday.
Spending was up by $31.8 billion while personal incomes rose 0.2 percent, or by $31.7 billion.
Disposable income rose by 0.2 percent, or $22 billion, after rising 0.4 percent, or $45.9 billion, in March.
Personal savings as a percentage of disposable income rose 3.4 percent in April after rising 0.5 percent in March, also a downwardly revised figure.
Core prices — prices excluding energy and food items — were relatively flat in April, rising 0.1 percent after climbing 0.2 percent in March. Prices for all items, including food and energy items, were even flatter, rising less than 0.1 percent, the agency said.