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U.S. consumer spending up 0.2 percent

By The Associated Press

This article was published January 31, 2013 at 11:16 a.m.

— 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.

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abbybake says... March 12, 2013 at 4:43 a.m.

According to a current survey, American consumer spending is down this year. That is a direct result of the payroll tax break expiring at the start of the year, and it may slow the delicate economic recovery rate. According to the Tax Policy Center, the expiration of those paycheck tax cuts will cost the typical American worker about $700 in 2013. You may need a "Use payday loans to make money" to pay for your expenses now that you have lost extra cash. Learn more at: personalmoneynetwork

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