According to data from US Department of Commerce, personal consumption expenditure in America declined and saving rate remained unchanged.
The data shows that personal consumption expenditure in America fell by 0.2%. Personal income fell by 0.1%, a decrease of $56 million. It was the first time in the past 5 years. In last month, it grew by 0.3%. In April, American people's saving rate reached 2.5%, remaining unchanged. Before economic recession of 2007, American people's saving rate was only 2.1%.
Written by Nicolas Yang
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