March 29, 2010
Consumer Spending Up On Less Saving
By Matthew L. Brown
Consumer spending increased by 0.3 percent in February after increasing by 0.2 percent in January, the U.S. Department of Commerce said.
After adjusting for inflation, after-tax incomes were unchanged in February. After-tax incomes fell 0.4 percent in January, after adjusting for inflation.
With spending rising faster than incomes, the personal savings rate fell to 3.1 percent of disposable income, down from 3.3 percent in January and 4.2 percent in December.
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