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Consumers Spend Less On Big Items But More Overall.(A)
Byline: AP
Consumers spent modestly in March but cut back sharply on purchases of big-ticket items such as cars. Incomes rose more quickly than spending.
The Commerce Department reported Monday that Americans' spending grew by 0.3% last month, slightly stronger than the 0.2% rise many analysts were predicting.
Incomes, which include wages, interest and government benefits, went up evenmore quickly, rising 0.5% last month, matching many analysts' expectations. The spending and income figures aren't adjusted for inflation.
Consumer confidence made a comeback in March after five straight months of declines. But confidence dropped sharply again in April.
Consumer spending accounts for two-thirds of all economic activity and has been the main force supporting ...
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