US consumer spending crawls in January

By Agence France-Presse
Monday, February 28, 2011 10:21 EDT
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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.

Agence France-Presse
Agence France-Presse
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  • http://pulse.yahoo.com/_QMPOO3PZFN7XV2XZKCGSXXR3WM Joe Somebody

    What the hell are they basing “increase in personal incomes” ON? The 20% real unemployment rate? The “no raises because the economy tanked”?

    Or the trillions given to the few to cover their gambling failures? I’m guessing they are looking at per Capita and not anything rooted in reality.

    OH.. AFP, I should have known.. the propaganda flows despite all logic, reason, and demonstrable facts to the contrary.

  • http://pulse.yahoo.com/_QMPOO3PZFN7XV2XZKCGSXXR3WM Joe Somebody

    Oh, and suggesting a 1% increase “means something” when that’s WAY under inflation (the rise in cost for the same goods) is to further present a lie as ‘good news’.

  • Anonymous

    Sharp rise in personal income…what are they talking about? I guess some hedge fund manager made another billion while the rest of us are trying to figure out whether to buy gas or eat.