WASHINGTON (AP) — Americans earned less last month, the first decline in nearly two years. With less income, consumers could cut back on spending and weaken an already-fragile economy.
Consumers spent a little more in August despite seeing their incomes drop 0.1 percent, the Commerce Department said Friday. Consumer spending rose just 0.2 percent, after a more robust 0.7 percent gain in July.
Most of the increase in spending went to pay higher prices for food and gas. When adjusted for inflation, consumer spending was flat last month.
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