US Personal Spending Edged Down in April; Gains in February and March Were Revised Up

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Personal consumer expenditure (PCE) fell by 0.1% in April, contrary to expectations for a 0.2% gain; however, upward revisions to the prior two months offset the disappointing April result. PCE increased by 1.0% in March and 0.6% in February, both of which were upward revisions to the 0.9% and 0.5%



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