Consumers spend more, save less

03/3/2008 |

Americans are spending more and saving less, thanks to rising prices and slower income growth. A report from the Commerce Department released on Friday found consumer spending flat in January, while other reports showed a decline in consumer confidence. "Consumers are spending more dollars, but the extra spending is being wiped out by higher prices," Nigel Gault, an economist at Global Insight, wrote in a research note.

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