and Personal Consumption Expenditures at +0.4%, both almost exactly as expected by private economists. Weakness in consumption was seen in a 0.6% drop in durables spending, also as expected from slowing auto sales. In fact, the Commerce Department said purchases of motor vehicles and parts more than accounted for the April and March decreases in real PCE. Real April spending overall was just 1% over the 1Q average, versus +2.9% real consumption in the 1Q GDP accounts, so the data suggest a slowing in underlying growth.