Consumer spending rose less than expected in January even as incomes improved, an indication that Americans may still be unsure about the slowly recovering economy.
Personal income increased 0.3% from the prior month while spending rose 0.2%, the Commerce Department said Thursday. In December, spending was flat, but incomes rose 0.5%.
Economists surveyed by Dow Jones Newswires were expecting both spending and income to rise 0.4% in January.
Source: www.dowjones.com
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