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<a href="http://www.accessmylibrary.com/article-1G1-132059379/income-spending-up-but.html" title="Facts and information about Income, Spending Up, But Inflation Eats Gain; Labor Costs Real Tame; Stocks Rally On Sub-$50 Oil; Data buffet, same menu: Growth slows, prices rise, but don't get worked up.(A)">Income, Spending Up, But Inflation Eats Gain; Labor Costs Real Tame; Stocks Rally On Sub-$50 Oil; Data buffet, same menu: Growth slows, prices rise, but don't get worked up.(A)</a>
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Income, Spending Up, But Inflation Eats Gain; Labor Costs Real Tame; Stocks Rally On Sub-$50 Oil; Data buffet, same menu: Growth slows, prices rise, but don't get worked up.(A)
Byline: KIRK SHINKLE
Friday's economic data continued to show the U.S. economy coping with slower growth and higher inflation.
Rising prices beat back gains in income and consumer spending during March. But employers' labor costs posted their smallest quarterly gain in six years, offsetting some inflationary concerns.
"The story of the day -- and yesterday -- is that there's been a mild slowing in growth . . . and the data continue to weaken," said Ethan Harris, chief U.S. economist at Lehman Bros. "It's a slight worsening in the general tone of the economy."
The Commerce Department said personal incomes climbed 0.5% in March while consumer spending rose 0.6%, both a little higher than expected.
But adjusting for the report's inflation gauges, figured into Thursday's market-bashing GDP data, spending rose just 0.1%.
The personal consumption expenditures index rose 0.5% after a 0.3% gain in February.
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