Personal Spending Rises in April

Consumer personal spending rose 0.3% in April as incomes increased, the Commerce Department said Friday.

The spending increase followed a revised 0.2% climb in March that was smaller than previously reported.

The April gain matched economists’ median forecast, Bloomberg reported.

Personal incomes rose 0.2% after a 0.4% increase the previous month.

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