Contact Us

Americans Cut Spending For First Time In 20 Months

Photo From marketspacetrading.com

Americans cut back on their spending in June for the first time in nearly two years and their incomes grew by the smallest amount in nine months, a troubling sign for an economy that is barely growing.

The Commerce Department says consumer spending dropped 0.2 percent in June. Excluding falling prices for such items as energy and food, consumer spending would have been unchanged in June.

Incomes rose 0.1 percent. It was the weakest growth in income since September, reflecting anemic hiring this spring.

High gas prices and unemployment have squeezed household budgets this spring, leading to tepid overall economic growth in the April-June quarter.
Associated Press

More From News Talk KGVO

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://newstalkkgvo.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News Talk KGVO Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on News Talk KGVO Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!