U.S. Consumer Spending Falls Unexpectedly in May

U.S. consumer spending falls unexpectedly in May

Consumer spending, which accounts for more than two-thirds of economic activity, dropped 0.1 per cent last month after an unrevised 0.2 per cent gain in April

US economy shrinks more than expected in Q1 as consumer spending falters

According to the Commerce Department's third and final estimate released Thursday, gross domestic product (GDP) fell at an annualized rate of -0.5% between January and March, a steeper decline than the -0.2% reported in the second estimate. The figure reflects the most comprehensive assessment of first-quarter economic activity, adjusted for inflation and seasonal patterns.

US Consumer Spending Falls as Trump Tariff's Muddle Economy

WASHINGTON — U.S. consumer spending unexpectedly fell in May as the boost from the pre-emptive buying of goods like motor vehicles ahead of the Trump administration’s tariffs faded, while monthly inflation maintained a moderate pace of increase. The Commerce Department’s report on Friday likely will have no impact on near-term monetary policy as Federal Reserve Chair Jerome Powell told lawmakers this week that the U.S. central bank needed more t…

Personal Income and Spending Unexpectedly Decline in May

Economists missed the boat by a mile on income and expenditures.