1 March 2001, 16:42  US Jan consumer spending grows as savings rate hits record low

Washington--March 1--U.S. personal income and spending grew in January at their fastest pace since September, while the savings rate plunged to a record low, the Commerce Department said. Incomes increased 0.6%, while spending climbed 0.7%, leaving the savings rate at a negative 1.0%. Economists surveyed by BridgeNews had predicted consumer income to rise 0.5% and spending to climb 0.6% in January.

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