WASHINGTON U.S. consumers increased their spending in December at a slower pace, while their income grew by the largest amount in eight years. Income surged because companies rushed to pay dividends before income taxes increased on high-earners.
The Commerce Department said Thursday that consumer spending rose 0.2 percent last month. That’s slightly slower than the 0.4 percent increase in November. Income jumped 2.6 percent in December from November, the biggest gain since December 2004.
Read more in Friday's Arkansas Democrat-Gazette.