U.S. Personal Spending Shows Unexpected Decrease In April

(RTTNews) - While the Commerce Department released a report on Friday showing that U.S. personal income rose in line with economist estimates in the month of April, the report also showed an unexpected drop in personal spending for the month.

The report showed that personal income rose by 0.3 percent in April following a 0.5 percent increase in March. The increase marked the fourth straight month of growth and matched expectations.

On the other hand, the Commerce Department said personal spending edged down by 0.1 percent in April after surging up by 1.0 percent in March. The modest decrease surprised economists, who had expected spending to rise by 0.2 percent.