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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