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3/1/2013 8:35:00 AM Write a Letter to the Editor Write a letter to the Editor

Personal Spending Rises in January as Incomes Drop

Personal spending rose 0.2% in January as incomes fell by the most in 20 years, the Commerce Department said Friday.

The upturn followed a 0.1% gain in December and matched economists’ median estimate, Bloomberg News reported.

Personal incomes fell 3.6%, the largest decrease since January 1993. Economists’ had forecast a 2.4% drop, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.

By Transport Topics

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