Posted by: thepinetree on 03/02/2009 11:41 AM
Updated by: Kim_Hamilton on 03/02/2009 11:46 AM
Expires: 01/01/2014 12:00 AM
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Consumer Spending and Incomes Were Up in January
Washington, DC...Personal income grew 0.4 percent in January. Wages and salaries, the largest component of personal income, fell 0.2 percent after falling 0.4 percent in December. The January timing of pay raises boosted government wages, and cost-of-living adjustments to social security and other programs boosted transfers. Excluding these and other special items, personal income rose 0.2 percent after falling 0.3 percent...
Real disposable personal income (DPI), income adjusted for inflation and taxes, rose 1.5 percent in January.
Real consumer spending, adjusted for price changes, turned up, rising 0.4 percent in January after falling 0.5 percent in December. Spending on food and energy turned up.
PCE prices increased 0.2 percent in January. Excluding food and energy, price growth was close to zero.
Personal saving as a percent of disposable income rose to 5.0 percent in December.
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