Consumer Behavior

Big consumer spending drop in April, reveals report

Photo by istock.com

June 1, 2020

Consumers weren't busy spending during COVID-19 lockdown in April as consumer spend declined 13.6%, according to a Bureau of Economic Analysis report.

That translates to a $1.89 trillion in less consumer spend, according to a MSN report, and reflects a level of spend not in play since September of 2014.

It's also the biggest decline month-to-month since the agency began tracking consumer spend in 1959.