US Incomes Decline Slightly

Posted September 30th, 2011 at 9:15 am (UTC-5)
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Incomes dropped slightly in the United States in August, the first decline in about two years.

Friday’s report from the Commerce Department says consumers saved less and boosted spending slightly.

Economists watch consumer income and spending closely because consumer demand drives most U.S. economic activity.

Consumer spending has been hampered by high unemployment, stagnant wages, and falling prices for stocks and homes.