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Taxpayers must pay the freight for over-budget train projects
Topic - Income
U.S. consumers spent more in May as their income rose — encouraging signs after a slow start to the year — but spending was weaker in April, February and January than previously estimated.
Americans' income rose in December by the most in nine months, a hopeful sign for the U.S. economy after a year of weak wage gains. But consumers didn't spend any more than they had in November.
Americans cut back on their spending in June for the first time in nearly two years and their incomes grew by the smallest amount in nine months, a troubling sign for an economy that is barely growing.
Americans spent in May at the weakest pace in 20 months, a sign that high gas prices and unemployment are holding back the economy.
For the first time in a year, Americans have stopped spending more.
Spending among Americans increased in May, though not enough to speed the country along the road to economic recovery.