US CONSUMER spending suffered another month of record decline in April as the Covid-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression. Read more at The Business Times.
Inflation was also weak, with the personal consumption expenditures price index at its weakest since Sept 2001Consumer spending was tamped down by a drop in healthcare spending and a decrease in dining out.
US CONSUMER spending suffered another month of record decline in April as the Covid-19 pandemic undercut demand, buttressing expectations that the economy could contract in the second quarter at its steepest pace since the Great Depression.
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