US Consumer Spending Growth Slows in April, Inflation Falls to Four-Year Low
According to data from Jinshi Data on May 30, consumer spending in the United States began to slow in April after experiencing the strongest month of consumption since early 2023, while inflation remained mild, consistent with the economic slowdown. Compared to the same period last year, the US core PCE price index recorded an annual rate of 2.5% in April, the smallest annual increase in over four years. This data reveals the potential anxiety among many American consumers regarding the economy after the weakest consumption quarter in nearly two years. Although high tariffs on imported goods have not yet been widely reflected in rising product prices, consumer sentiment has significantly declined, and personal financial prospects are at historical lows. Another report released on Friday showed that the US goods trade deficit narrowed significantly in April due to the largest ever decline in import volumes (with goods imports falling 19.8% month-on-month, the largest recorded drop).
