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Consumer spending falls for 1st time in a year as income growth slows
Consumer spending falls for 1st time in a year as income growth slows

Americans surprisingly spent less in April, the first monthly drop in a year and a potentially worrisome sign for an economic rebound after a slow winter. Consumer spending was down $8.1 billion, or 0.1%, last month, the Commerce Department said Friday. The decrease came after strong spending growth in March, revised up slightly Friday to a 1% gain. That was the best performance since August 2009. Economists did not expect consumers to keep up the March pace. But forecasts still called for spending to grow by 0.2% last month. Part of the reason for the decline, the first since a 0.2% drop in April 2013, could be that personal income growth was down. Incomes rose 0.3% compared to...

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