Content about Carl Riccadona

September 30, 2011

Consumer spending in the United States slowed in August, impacted by falling incomes and sporadic hiring, according to a report released Friday by the Commerce Dept.

Washington, D.C. -- Consumer spending in the United States slowed in August, impacted by falling incomes and sporadic hiring, according to a report released Friday by the Commerce Dept. The report came amid news that incomes unexpectedly dropped for the first time in almost two years.

Commerce Dept. figures showed that purchases edged up 0.2% after a 0.7% increase in July. However, a 0.2% increase in prices wiped out the slight spending gain. Incomes dipped 0.1%, the first decline since October 2009.