U.S. consumer spending was down in the first quarter of 2022, according to revised figures from the U.S. Bureau of Economic Analysis (BEA) on June 29, a sign that the economy is showing signs of weakening growth.
When adjusted for inflation, consumer spending increased by 0.5 percent in the first quarter, well below the previous estimate of 0.8 percent growth, but a slowdown from the 0.6 percent growth in the fourth quarter of 2021.
