6/3/2013

The Commerce Department said seasonally adjusted consumer spending dropped 0.2% in April. As consumers' income growth flattened, they cut spending at the sharpest rate in nearly a year. May's jobs report is among the major U.S. data due this week. It is expected to show modest gains that should allay fears of a midyear economic slump. In general employers continue to add around 175,000 jobs a month.

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