U.S. Consumer Spending Slows in April Amid Economic Concerns

According to BlockBeats, data indicates that U.S. consumer spending slowed in April following the strongest month of consumption since early 2023, while inflation remained moderate, aligning with the broader economic slowdown. The core Personal Consumption Expenditures (PCE) price index in the U.S. rose by 2.5% year-over-year in April, marking the smallest annual increase in over four years. This data highlights underlying anxiety among many American consumers after the weakest consumption quarter in nearly two years. Despite high tariffs on imported goods not yet widely impacting prices, consumer sentiment has significantly declined, and personal financial outlooks are at historic lows. Another report released on Friday showed a significant narrowing of the U.S. goods trade deficit in April, driven by the largest recorded drop in import volumes, with goods imports falling by 19.8%, the largest decrease on record.