WASHINGTON (AP) - U.S. consumers cut back on spending in April for the first time in a year. The setback came after a huge increase in the previous month and should not raise concerns about an expected spring rebound in the economy.<br />
The Commerce Department says consumer spending fell 0.1 percent in April, reflecting reductions in purchases of durable goods such as autos and in services such as heating bills. The drop was the first in 12 months, but it followed a 1 percent surge in spending in March, which had been the biggest increase in more than four years.<br />
Income rose 0.3 percent in April after a 0.5 percent March gain.<br />
The overall economy shrank in the first quarter, but economists expect a strong rebound this quarter.<br />
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
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A weeklong search for a Missouri couple wanted in a series of robberies and abductions across the South ended with one suspect dead and the other wounded Friday, after authorities say they chased the pair across the highway and through a rural neighborhood and exchanged gunfire with them in Florida's Panhandle.
Cheap oil will be sticking around for a while.That reality is wreaking havoc and causing uncertainty for some governments and businesses, while creating financial windfalls for others. Less expensive...
Texas Sen. Ted Cruz swept to victory in Iowa's Republican caucuses Monday, overcoming billionaire Donald Trump and Florida Sen. Marco Rubio. Among Democrats, Hillary Clinton and Bernie Sanders were deadlocked in a tight race.
On the eve of the first contest on the 2016 presidential election calendar, some voters are pushing for bolder, more uncompromising action, with an intensity that has shaken both the Republican and Democratic establishments.