A man carries shopping bags as he crosses the street in New York. Photo: AFP

US consumer spending picked up in April, in a sign that Americans are more willing to spend this quarter after a rough start to the year. Rising wages should add momentum to the trend, with salaries rising 0.7% in April over the previous month.

One point of caution for the Federal Reserve was a year on year slowdown for inflation. If inflation continues to slip, the Fed may delay their next rate hike.