U.S. consumer spending suffered another month of record decline in April
FILE PHOTO: A pedestrian walks past beach bars closed due to the ongoing national outbreak of the coronavirus disease in Atlantic City, New Jersey U.S., May 19, 2020. REUTERS/Lucas Jackson/File Photo
There were also decreases in spending at restaurants, which have shifted to delivery and pick-up service only, and hotels and motels. Spending on food and beverages fell in April. But the economic slump could be close to bottoming as businesses reopen after shuttering in mid-March to slow the spread of COVID-19.
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