Households Boosted Spending in April but Drew Heavily on Savings

American households increased their spending for the fourth straight month in April, but they dropped a lot of savings to do so.

The Commerce Department said on Friday, the Commerce Department said consumer spending rose 0.9% seasonally adjusted last month. The savings rate fell to 4.4%, a 14-year low, from a revised 5% last month, suggesting many Americans are tapping their savings to offset rising costs caused by inflation. high.

https://www.wsj.com/articles/consumer-spending-personal-income-april-2022-11653597309?mod=pls_whats_news_us_business_f Households Boosted Spending in April but Drew Heavily on Savings

Edmund DeMarche

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