Consumer spending up, ending slide

Consumer spending up, ending slide


Government report shows larger-than-expected increase was first gain in 7 months. Income in surprise gain.

March 2, 2009: 8:36 AM E

NEW YORK -- Consumer spending rose more than expected in January, after declining for six consecutive months, according to government figures released Monday.

The Commerce Department report showed spending by individuals rose 0.6% last month, after dropping 1% in December. Economists surveyed by Briefing.com had forecast an increase of 0.4%.

The report also showed that personal income rose 0.4% in January, following a decline of 0.2% in the previous month. Economists had forecast another 0.2% decline.

Last month, the government reported that consumer spending rose an anemic 3.6% in 2008, the smallest full-year increase in 47 years.

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