Rises at a slower pace than previous months
Posted May 1, 2012
Spending by consumers rose more slowly in March, increasing 0.3 percent in March after a 0.9 percent rise in February, according to the U.S. Commerce Department.
Personal income was up 0.4 percent following a 0.3 percent gain in February, according to an article in The New York Times, while after-tax income when adjusted for inflation grew 0.2 percent in March.
During the month, consumers spent 0.9 percent more on nondurable goods, such as clothing, while spending on durable goods, like cars and appliances, declined 0.3 percent, reports The Times.