US consumer spending plunged the most ever last month as savings spiked to a record high

· US consumer spending slumped 13.6% in March, the largest drop on record, the Commerce Department reported Friday. Economists surveyed by Bloomberg expected a 12.8% decline.
· At the same time, the personal savings rate surged to a record 33% from 12.7% in March as consumers held onto cash. 
· Incomes also increased 10.5%,...