US Spending and Personal Incomes Increased in January

03 March 2006

    WASHINGTON DC - Personal spending edged-up 0.9% in January, the biggest advance in six months, helped by unusually warm weather that brought more consumers to stores, the US Commerce Department reported Wednesday.
    Personal incomes also rose a solid 0.7% January, reflecting wage growth during the month and a number of special factors, including a 4.1% cost of living increase for Social Security recipients and the start of the government's new prescription drug benefit.
    Without the special factors, personal income would have risen by a smaller 0.4%.