Consumer spending in the U.S. unexpectedly declined in April for the first time in almost a year as incomes stagnated, indicating that the largest part of the economy will struggle to pick up without bigger job gains.
Purchases fell 0.2 percent after a 0.1 percent gain in March that was smaller than previously estimated, a Commerce Department report showed today in Washington. Incomes were unchanged and prices dropped by the most in more than four years. Other reports showed consumer confidence and business activity jumped in May.
