Economic Buzz: US personal spending up by 0.5% in April

Personal consumption expenditures (PCE) in the United States increased by 0.5% in April compared to the previous month, according to a report by the Bureau of Economic Analysis released on Thursday. Personal income was down less than 0.1%, while disposable personal income declined by 0.1%.

The PCE price index, the Federal Reserve's preferred inflation gauge, rose by 0.4% from March and 3.8% on a yearly basis, in line with expectations. Core PCE inflation, excluding food and energy, came in at 0.2% and 3.3%, respectively.

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