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January Consumer Spending Growth Weak

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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