US consumption dove 13.6% in April amid virus lockdowns
21:05 UTC+8, 2020-05-29
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US personal consumption plunged a record 13.6% in April, the first full month where businesses closed their doors and shoppers stayed home to stop the coronavirus.
21:05 UTC+8, 2020-05-29
0
US personal consumption plunged a record 13.6 percent in April, the first full month where businesses closed their doors and shoppers stayed home to stop the coronavirus, the Commerce Department said Friday.
Prices also dropped by 0.5 percent, the biggest drop in more than five years, according to the PCE price index, as slowing consumption was worsened by mass layoffs that have now put some 40 million Americans out of work, at least temporarily.
Source: AFP
Editor: Han Jing
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