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May 01, 2006
Consumer Income, Consumption Climb
Both personal income and consumption surged in March, despite high oil prices and inflationary worries.
Personal income rose by 0.8 percent, after a 0.2 percent increase in February, the U.S. Commerce Department said Monday. The climb accompanied a 0.6 percent increase in personal consumption during the month.
While consumer outlook seemed to brighten in March, the Fed is still concerned about inflation since the price index for personal consumption expenditures rose 0.3 percent in March, excluding food and energy.
Posted by Blacks on May 1, 2006 09:37 AM
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