A recent report from the U.S. Bureau of Economic Analysis says that, in April, personal income increased $89.3 billion, or 0.4% at a monthly rate, while consumer spending increased $152.3 billion, or 0.9%. Interestingly, the personal saving rate dropped slightly to 4.4% in April compared with 5% in March. Also, note the 26.9% drop in fuel spending thanks to higher gas prices.
Click here to read the full report at the BEA.
