WASHINGTON (AP) - Consumers spent slightly more last month, but they earned less for the first time in nearly two years. The new data on spending and incomes suggest Americans tapped their savings to cope with higher gas prices and a weaker economy.
The Commerce Department says consumer spending... more »
The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economy slowed significantly in the spring.
The Commerce Department say personal spending was unchanged in June, the third straight month of lackluster consumer demand. Incomes were flat as well, the weakest... more »
Consumer spending in April turned in the weakest performance in seven months, while incomes posted a tiny advance.
The Commerce Department says consumer spending was unchanged last month. Economists had expected a 0.3 percent rise.
Personal incomes rose 0.4 percent, less than the 0.5 percent gain economists had... more »
New figures show Americans pulled back from the malls in April after spending more rapidly in March. The lull comes on the heels of three straight month-to-month gains in retail spending, according to figures released by MasterCard Advisors' SpendingPulse.
April's business was hurt by cool weather as well as... more »
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 modest rise in incomes added to concerns that the recovery could weaken unless income growth increases more rapidly.
The... more »
When the Commerce Department releases its first quarter gross domestic product estimate this morning, economists are expecting it will show the economy is on the rebound thanks in part to America's shoppers. Wall Street economists surveyed by Thomson Reuters are estimating the economy grew at a 3.4 percent annual rate... more »
Personal incomes rose more than expected in December and consumer spending increased for the third straight month, helping the economy slowly recover from the worst recession in decades. The Commerce Department said Monday that incomes rose by 0.4 percent, the sixth increase in a row. That's slightly better than analysts'... more »