US consumers boosted spending in April as inflation surged
May 28, 2021
WASHINGTON (AP) — Americans increased their spending by 0.5% in April, a slowdown after a massive gain in March that had been powered by the distribution of billions of dollars in individual stimulus checks.
Even with the pullback from a 4.7% surge in spending in March, the April increase provided further evidence that consumers are driving a strengthening recovery from the pandemic recession. The April gain was led by a 1.1% rise in spending on services, the sector that covers airline travel, hotels and restaurants — areas that were devastated by the pandemic-caused shutdowns a year a...