US consumer spending sinks by record 13.6% in face of virus
Friday, 29 May 2020 WASHINGTON (AP) — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month’s spending decline was far worse than the revised 6.9% drop in March, which itself had set a record for the steepest one-month […]
US Consumer Spending Plunged by a Record 13.6 Percent in April Consumer spending data was released by the Bureau of Economic Analysis (BEA) on Friday. The record 13.6 percent plunge equates to a drop of $1.89 trillion. The dive is the greatest month-to-month decline since 1959, when the BEA began...
U.S. consumer spending rebounded by the most on record in May. But as Fred Katayama reports, the gains are not likely to be sustainable, with income dropping and expected to decline further as millions..
WASHINGTON (AP) — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs... SeattlePI.com Also reported by •Seattle Times •Newsday
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