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Coronavirus sinks U.S. consumer spending; savings hit record high

Coronavirus sinks U.S. consumer spending; savings hit record high

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

  1. Coronavirus sinks U.S. consumer spending; savings hit record high  Reuters
  2. Income Surges as Spending Drops Most on Record  TheStreet
  3. U.S. consumer spending falls a record 13.6% in April  KTNV Channel 13 Las Vegas
  4. U.S. consumer spending tanks; savings hit record high  Reuters
  5. Coronavirus Update: Consumer Spending Plummets, Boston Tradition Canceled  RADIO.COM