US income, spending up 0.2% in April
30 May 2008
No CommentUS income, spending up 0.2% in April
Posted: 30 May 2008 2239 hrs
WASHINGTON : US consumer spending and incomes both rose 0.2 percent in April, data showed Friday, suggesting sluggish growth in the world’s biggest economy is continuing.
The report, in line with analyst forecasts, indicated a slowdown from March when spending rose 0.4 percent and incomes increased a revised 0.4 percent.
The report is closely watched for trends on consumer spending, which is the main driver of activity in an economy that is struggling to stay out recession.
After adjusting for higher prices, real consumer spending was unchanged following a meager 0.1 percent increase in March and a 0.1 percent drop in February.
An inflation index in the report showed a 0.2 percent rise in prices for the month, and 0.1 percent rise using core prices excluding volatile food and energy costs. Year-over-year inflation was up 3.2 percent and core prices increased 2.1 percent.
- AFP /ls
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