- Alan Greenspan has another worry: U.S. consumers are being squeezed by higher energy prices and weak income growth.
As a result, consumer spending sagged yet again in April, with higher prices eating up most of the small gains in income, the Commerce Department reported Tuesday.
Personal incomes rose 0.3 percent in current dollars, as expected, after rising 0.4 percent in March, the government said.
Consumer spending rose 0.5 percent in current dollars in April after rising 0.3 percent in March. Economists were expecting a healthier gain of 0.7 percent in April. See Economic Calendar.
After adjusting for tax payments and price changes, real disposable incomes fell 0.1 percent in April following a 0.2 percent gain in March.
Real consumer spending rose 0.2 percent after no change in March.
Stock futures were higher before the report was released and maintained most of their gains. Bonds were broadly lower. See full story.
As a result, consumer spending sagged yet again in April, with higher prices eating up most of the small gains in income, the Commerce Department reported Tuesday.
Personal incomes rose 0.3 percent in current dollars, as expected, after rising 0.4 percent in March, the government said.
Consumer spending rose 0.5 percent in current dollars in April after rising 0.3 percent in March. Economists were expecting a healthier gain of 0.7 percent in April. See Economic Calendar.
After adjusting for tax payments and price changes, real disposable incomes fell 0.1 percent in April following a 0.2 percent gain in March.
Real consumer spending rose 0.2 percent after no change in March.
Stock futures were higher before the report was released and maintained most of their gains. Bonds were broadly lower. See full story.
