Both consumer spending and the number of Americans filing for first-time unemployment benefits took a dip in March.
While it was expected for spending to drop, even after two months of slight gains, the decline was twice what was anticipated—down 0.2 percent. Monthly income fell by more than expected as well, by 0.3 percent. The drop is worrisome, as consumer spending accounts for 70 percent of all economic activity.
Source:
YahooNews: Consumer Spending, New Jobless Claims Dip
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First-Time Unemployment Filers Down, Unemployment Overall Breaks Record
