Personal Spending Drops 0.2% in April

Personal spending fell 0.2% in April, the Commerce Department reported Friday.

The drop followed a 0.1% gain in March that was smaller than originally reported.

Economists’ forecast was for spending to be unchanged, Bloomberg News reported.

Personal incomes were unchanged. Economists’ had forecast a 0.1% rise in incomes, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.