From today’s Washington Post:
Personal spending jumped by a larger amount than expected in January but Americans' incomes barely budged. The weak income growth could depress spending in the months ahead, acting as a further drag on the fragile economic recovery.
The Commerce Department said that personal spending rose by 0.5 percent in January, slightly better than expected. But incomes edged up only 0.1 percent, significantly lower than the 0.4 percent gain that economists had expected.
I can attest to the spending as I have been to the mall in Joplin a couple weeks in a row. I have been amazed at how many people are at the mall. The cars are parked clear out to Range Line, just like at Christmas, and many, many people are carrying packages.
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