The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economic recovery slowed in the spring. Personal spending was unchanged in June, the Commerce Department reported Tuesday. It was the third straight month of lackluster consumer demand. Incomes were also flat, the weakest showing in nine months. [...] [...]
Stock futures dipped this morning as investors paused after a big two-day rally to prepare for key reports on the jobs market and retail sales. High unemployment and slow growth in consumer spending have been the biggest impediments to a strong, sustained recovery. So Thursday’s weekly government report on initial jobless claims and retailers’ reports [...] [...]
Consumer spending rose in March by the largest amount in five months but the gains were financed out of savings, which fell to the lowest level in 18 months. A slight rise in incomes added to concerns that the recovery could weaken unless income growth increases more rapidly. The Commerce Department said consumer spending rose [...] [...]
WASHINGTON (AP) – The government says consumers increased spending for a second straight month in February even though their incomes slipped due to continuing massive layoffs.The Commerce Department reported Friday that consumer spending edged up 0.2 percent in February, in line with expectations. That follows a huge 1 percent jump in January that was even [...] [...]
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