Consumer spending in the United States fell in April by 13.6% compared with March, but contrary to all expectations of experts, incomes of American consumers rose by 10.5%, according to published data from the US Treasury.
Analysts predicted a decrease in income of Americans in April by 6.5%. However, the increase in state payments for social benefits led to the fact that individuals received record money from the state.
The drop in consumption has become the most significant since the indicator was taken into account in 1959. Experts believed that the index of expenditures on personal consumption would decrease by 12.6% in April.
To support the economy, the US government provided a significant portion of Americans with a cash subsidy distributed by the tax authorities – from 1.2 thousand dollars for a single citizen to 4.4 thousand dollars for a couple with two children. Payments were nicknamed “Trump checks.”