With consumers saving more as a result of economic uncertainty, the Commerce Department released a report on Friday showing that personal spending decreased in September, while personal income came in nearly unchanged. The report showed that personal spending fell by 0.5 percent in September following an upwardly revised 1.4 percent increase in August. The Bureau of Economic Analysis reported that personal income was unchanged in September, after increasing 0.1 percent in August. The moderate pullback in personal spending came in line with the expectations of economists. The Commerce Department also said that its reading on core consumer prices, which exclude food and energy prices, rose at an annual rate of 1.3 percent in September, unchanged from the previous month. Wages and salaries, the largest component of personal income, decreased 0.2 percent in September after increasing 0.2 percent in August. Real disposable personal income, income adjusted for inflation and taxes, fell 0.1 percent in September, reflecting higher PCE (personal consumption expenditure) prices, as was the case in August.
US President Barack Obama's historic health care legislation, set to face a make-or-break vote on Sunday, would also reshape the way Americans pay for famously pricey college educations. Along with buying a home and setting aside cash for retirement, paying for higher ...
Congressional Democrats on Thursday trimmed their original student loan plans, reduced spending for community colleges, and eliminated early childhood money from a broad rewrite of a college aid bill piggybacked on to fast-track health care legislation. The student loan measure would be ...
Pelosi says it won't be long before health care bill passes; Dems add student loans to package Under White House pressure to act swiftly, House and Senate Democratic leaders reached for agreement Friday on President Barack Obama's health care bill, sweetened suddenly ...
Individual investors can make an impact on its price Once upon a time, the Chinese government forbade ownership of all precious metals. But now, the ban has been lifted. In fact, China just introduced silver bars for investment. And now, state-run China ...
Health care plan could also help resurrect college aid plan Congressional Democrats want a stalled overhaul of college aid programs to get strapped onto a fast-track health care bill, giving both Obama administration priorities a better chance of passage. The student loan ...
WASHINGTON (Reuters) - President Barack Obama's stalled bid to overhaul the federal student loan program by cutting subsidies to private lenders and increasing aid to students received a boost on Friday. Democratic congressional leaders agreed to fold Obama's student-loan proposal into a ...
Workers struggle to save for retirement, more report they have nothing set aside Tom Taormina is 65 and has no retirement savings. The Virginia City, Nev., business consultant said it's not for lack of trying. He and his wife, Midge, have tried ...
Chart compares personal savings and corporate cash flow since Copyright 2010 AP News
Spending grows 0.5 pct in January while incomes lag, raising worries about economic recovery Personal spending jumped by a larger amount than expected in January but Americans' incomes barely budged as millions of Social Security recipients did not get their usual cost ...
<div><p>US consumer spending posted a modest gain in May but savings vaulted amid massive government stimulus spending aimed at pulling the economy out of recession, official data showed Friday.</p><p>The Commerce Department reported consumer spending rose 0.3 percent in May from April, in ...
