Consumer spending, personal incomes stall
Published: August 3,2010
WASHINGTON — The pace of consumer spending stalled in June and personal incomes failed to increase, further evidence that the economy slowed significantly in the spring.
The Commerce Department say personal spending was unchanged in June, the third straight month of lackluster consumer demand. Incomes were flat as well, the weakest showing in nine months.
The lack of growth for spending and incomes shows the economy ended the second quarter on a weak note. Many analysts believe growth will slow further in the second half of the year as high unemployment, shaky consumer confidence and renewed troubles in housing weigh on the year-old economic recovery.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Bryant wants free tuition for students with technical diploma
- Prison-contract task force working in wake of Epps' indictment
- Analyst: KiOR Columbus plant may end up sold as scrap
- Investigators find massive Ag Museum fire was an accident
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- UM Chancellor Jones: Lymphoma treatment going well
- Court hits David Watkins with $600,000 order over Retro Metro issues