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US Personal Income Falls 3.6% in January, Biggest Drop in 20 Years

US Personal Income Falls 3.6% in January, Biggest Drop in 20 Years

Steve Cole/Getty Images(WASHINGTON) — Americans spent more money in the beginning of this year, even as their wallets shrunk, new government figures out Friday show.According to the latest report from the Commerce Department, consumer spending increas…

Payroll Tax Increase Weighs on Consumer Spending

Payroll Tax Increase Weighs on Consumer Spending

Ryan McVay/Thoinkstock(NEW YORK) — Does it seem like your paycheck has gotten smaller?  It has: 2 percent smaller, in fact, than it was in 2011 and 2012.Back then, employees only kicked in 4.2 percent of their wages towards Social Security thanks…

Consumers Remain Cautious About Spending

Consumers Remain Cautious About Spending

Brand X Pictures/Thinkstock(NEW YORK) — With all the market euphoria, a rally in the housing market, plus gains for auto sales, it may be surprising that U.S. consumers are still very cautious about spending money. A government survey released late la…

Survey: Worries over Fiscal Cliff Affecting Consumer Spending

Survey: Worries over Fiscal Cliff Affecting Consumer Spending

Brand X Pictures/Thinkstock(NEW YORK) — The approach of the fiscal cliff may be taking a bite out of consumer spending during the busiest shopping weeks of the year. A new poll from Bankrate.com says Americans’ ratings of their financial security is d…

Consumer Spending Fell 0.2% in October, Incomes Fell Flat

Consumer Spending Fell 0.2% in October, Incomes Fell Flat

Ryan McVay/Thinkstock(NEW YORK) — The economy took a hit last month as Superstorm Sandy pummeled through the East Coast, closing down major markets for days.The Commerce Department reported on Friday that consumer spending declined $20.2 billion, or …

Consumers Spending Less with Credit Cards, Says Fed

Consumers Spending Less with Credit Cards, Says Fed

George Doyle/Thinkstock(WASHINGTON) — More families may be putting their financial houses in order. The government reports that credit card spending is down, despite an increase in available consumer credit.     The Federal Reserve…

It’s a Slow Economic Recovery, More Data Show

It’s a Slow Economic Recovery, More Data Show

Zoonar/Thinkstock(WASHINGTON) — Two new pieces of info about the U.S. economy out Friday add to the pile of data indicating a frustratingly slow economic recovery.Americans spent more in August even though their income barely grew, the Commerce Depart…

American Consumers Went on a July Spending Spree

American Consumers Went on a July Spending Spree

Jupiterimages/Thinkstock(NEW YORK) — Consumers did more than sweat during a particularly hot July. They spent more money than they did in the past five months. In fact, the spending increased 0.4 percent, the biggest boost since February.What accounte…

Economists: Consumer Spending Most Likely Increased in July

Economists: Consumer Spending Most Likely Increased in July

Brand X Pictures/Thinkstock(NEW YORK) — Economists said before a report this week that U.S. consumer spending most likely increased in July by the most in five months, Bloomberg News reports. A median estimate from 65 economists surveyed by Bloomberg …

Stocks Mixed at Close; US Consumers More Budget Conscious

Stocks Mixed at Close; US Consumers More Budget Conscious

Hemera/Thinkstock(NEW YORK) — Stocks traded in a narrow range, teetering between gains and losses for most of the day. Wednesday the Dow and the S&P finally settled slightly higher, while the Nasdaq slipped. The Dow edged up seven points and …

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