US: Income and Spending Decline in March at the Front Edge of COVID-19 Disruptions 

<p>Personal income contracted by 2% m/m in March, and was weaker than market expectations (-1.5%). This was mainly due to a 2.8% decline in compensation as measures to contain COVID-19 resulted in millions of job losses. In real terms, income fell by 1.7% for the month. Spending fell considerably more than income, dropping by 7.5% […]</p>
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