February 1, 2010
Spending Slips As Consumers Save More
By Matthew L. Brown
Consumer spending increased 0.1 percent in December, its smallest increase since September as Americans socked more money away in savings, according to the U.S. Bureau of Economic Analysis.
Consumer spending increased by 0.4 percent in November.
Personal income increased $44.5 billion, or 0.4 percent, and disposable personal income increased $45.9 billion, or 0.4 percent, in December.
Personal saving finished the month at $534.2 billion compared with $506.3 billion in November. Personal saving as a percentage of disposable personal income was 4.8 percent in December, compared with 4.5 percent in November.
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