Personal Spending Grows 0.4% in April

Consumer personal spending rose 0.4% in April, the Commerce Department said Friday.

The increase followed a revised 0.5% increase in March that was lower than the 0.6% first reported.

The April increase was lower than economists’ forecasts of a 0.5% rise, Bloomberg reported. Personal incomes rose 0.4%, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.