Economy News Headlines - Yahoo! News: Consumer spending up, income drop largest in 20 years

Economy News Headlines - Yahoo! News Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.

Consumer spending up, income drop largest in 20 years Mar 1st 2013, 13:59 WASHINGTON (Reuters) - U.S. consumer spending rose in January as Americans spent more on utilities, with savings providing a cushion after income recorded its biggest drop in 20 years. The Commerce Department said on Friday consumer spending increased 0.2 percent in January after a revised 0.1 percent rise the prior month. Spending had previously been estimated to have increased 0.2 percent in December. January's increase was in line with economists' expectations. Consumer spending accounts for about 70 percent of U.S. economic activity and when adjusted for inflation, it gained 0. ... Media files: 2013-03-01T133526Z_1_CBRE92011R800_RTROPTP_2_USA-RETAIL-LULL.JPG (image/jpeg)

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