September consumer spending weak while incomes dip

[marmar]

WASHINGTON — Americans slowed their spending in September to the weakest pace in three months and their incomes fell for the first time in 14 months.

Personal spending rose at an annual rate of 0.2% in September, the Commerce Department said today. That’s below the 0.5% gains recorded in July and August.

Incomes fell 0.1% in September, following a 0.4% rise in August that had been pushed higher by the return of extended unemployment benefits.

The weak growth in spending and incomes underscored how fragile the economy remains. Consumers facing high unemployment and slow job growth remain reluctant to spend. ...........(more)

The complete piece is at: http://www.freep.com/article/20101101/BUSINESS07/101101003/1322/September-consumer-spending-weak-while-incomes-dip#ixzz142RM36HO