Consumer Spending Drops In April, Sentiment Rises In May

By PYMNTS | June 1, 2013

For the first time in nearly one year, consumer spending in the United States fell month-to-month in April, according to the Commerce Department, Bloomberg reports.

Analysts had been expecting that figures would remain unchanged from March, when a 0.2 percent was observed, though this statistic was revised to 0.1 percent.

However, while consumers are spending less, they are more confident, a report by Thomson Reuters and the University of Michigan indicated. This study’s monthly consumer confidence index rose to 84.5 in May, its highest mark since before the financial crisis.

Read the full report here.