US consumer spending, income remain sluggish

US consumer spending rose more than expected in January but personal income barely budged amid a fragile economic recovery, the government said Monday.Personal expenditures increased 0.5 percent while income edged up 0.1 percent, the Commerce Department said in a report.Most experts had expected both spending and income to rise 0.4 percent in the first month of the year.

The drop in personal income last week got some media attention, particularly given that it was the largest one-month drop in 20 years.

In Q4 of 2012 Canada’s GDP showed poor growth. Citigroup announced that it has increased its forecast of possible legal and regulatory risk in excess of reserves from $4 billion to $5 billion. SEC investigating Chesapeake Energy Corp over on multimillion controversial program.  

U.S. consumer spending rose in February and income rebounded, further signs economic activity accelerated in the first quarter, even though part of the increase in consumption reflected higher gasoline prices. The Commerce Department said on Friday consumer spending increased 0.7 percent last month after an upwardly revised 0.4 percent rise in January.

WASHINGTON – Consumer spending fell in October for the first time in five months as superstorm Sandy choked off car sales, suggesting slower economic growth in the fourth quarter. The Commerce Department said on Friday consumer spending fell 0.2% after a 0.8% increase in September. It said Sandy had impacted on income growth last month, but it had made adjustments to wages for storm-related work interruptions.

Americans increased their spending last month at twice the rate their income rose, a sign of confidence in the economy. The Commerce Department says consumer spending increased 0.8 percent, the best showing since February. Personal income rose 0.4 percent.» E-Mail This     » Add to Del.icio.us

WASHINGTON (Reuters) - Consumer spending increased by the most in se

US consumer spending slowed in March even as Americans saw a slight rise in income, official data showed Friday.Spending rose a seasonally adjusted 0.6 percent after an upwardly revised rise of 0.9 percent in February, the Commerce Department said.The increase was slightly better than the average analyst estimate of 0.5 percent increase in consumer spending, a key driver of the US economy.