Income growth outpaces spending in April

Consumer spending was weaker than expected in April but rising personal incomes hinted that the economy could actually be on firmer ground, the Commerce Department estimated Friday.

Consumer spending was flat in April after six straight monthly increases. Spending was weaker than the 0.1% gain forecast by economists. See MarketWatch consensus of all major U.S. indicators.

Total personal income rose by a seasonally adjusted 0.4% in April to an annual rate of $12.27 trillion. Adding to the sense of strength, income in March was revised upward to a 0.4% gain, compared with the prior estimate of a 0.3% increase.

After-inflation, after-tax disposable incomes rose 0.5% in April. This is the largest increase since May 2009. Read full government report.

Inflation-adjusted real spending was also flat in April after a 0.6% gain in March.

Read Full Article from MarketWatch

- Posted: 2010-05-28 09:35:40

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