US consumer spending crawls in January
WASHINGTON (AFP) – US consumer spending slowed to a crawl in January from December, despite a sharp rise in incomes, official data showed on Monday.
The Commerce Department reported consumer spending rose a seasonally adjusted 0.2 percent in January, the weakest pace since June.
The December rise — the crucial holiday shopping season — was revised downward to 0.5 percent from 0.7 percent.
Consumer spending in January was in line with expectations but personal incomes leaped 1.0 percent after a 0.4 percent rise in December.
That was the sharpest gain in incomes since May 2009.