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U.S. Consumer Spending Signals Second-Quarter Rebound On Track

Bloomberg business news

U.S. Personal Income, Spending Gain 0.4% in April

Updated on

The consumer is on track for a second-quarter comeback after a weak stretch at the start of the year, as Americans kept up spending in line with income gains in April, Commerce Department figures showed Tuesday.

The pickup in nominal consumer purchases shows Americans appear more eager to spend in the second quarter following the weakest gains since 2009 in the January-March period. Household balance sheets that have been strengthening with a tightening labor market and rising wages should help buoy spending as the broader economy gains momentum. Wages and salaries rose 0.7 percent from the previous month, matching the fastest gain since April 2016.