US consumer spending up slight 0.2 percent Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 5:51 am, Thursday, January 31, 2013 Income surged because companies rushed to pay dividends before income taxes increased on high-earners. Companies accelerated dividend payments to beat the January rise in income tax rates. The dip was a reminder of the economy's vulnerability as automatic cuts in government spending loom. The agreement on the fiscal cliff averted income tax cuts on most consumers. The purchases are intended to keep long-term interest rates down to encourage spending, boost growth and reduce still-high unemployment.
Comment on US consumer spending up slight 0.2 percent
Business Heds Index, Seattle Post-Intelligencer: Business
Thu, 01/31/2013 - 8:00am
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