[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Utopian Visionaries Who Won’t Leave People Alone

No - no - no Ain'T going To get away with iT

Pete Buttplug's Butt Plugger Trying to Turn Kids into Faggots

Mark Levin: I'm sick and tired of these attacks

Questioning the Big Bang

James Webb Data Contradicts the Big Bang

Pssst! Don't tell the creationists, but scientists don't have a clue how life began

A fine romance: how humans and chimps just couldn't let go

Early humans had sex with chimps

O’Keefe dons bulletproof vest to extract undercover journalist from NGO camp.

Biblical Contradictions (Alleged)

Catholic Church Praising Lucifer

Raising the Knife

One Of The HARDEST Videos I Had To Make..

Houthi rebels' attack severely damages a Belize-flagged ship in key strait leading to the Red Sea (British Ship)

Chinese Illegal Alien. I'm here for the moneuy

Red Tides Plague Gulf Beaches

Tucker Carlson calls out Nikki Haley, Ben Shapiro, and every other person calling for war:

{Are there 7 Deadly Sins?} I’ve heard people refer to the “7 Deadly Sins,” but I haven’t been able to find that sort of list in Scripture.

Abomination of Desolation | THEORY, BIBLE STUDY

Bible Help

Libertysflame Database Updated

Crush EVERYONE with the Alien Gambit!

Vladimir Putin tells Tucker Carlson US should stop arming Ukraine to end war

Putin hints Moscow and Washington in back-channel talks in revealing Tucker Carlson interview

Trump accuses Fulton County DA Fani Willis of lying in court response to Roman's motion

Mandatory anti-white racism at Disney.

Iceland Volcano Erupts For Third Time In 2 Months, State Of Emergency Declared

Tucker Carlson Interview with Vladamir Putin

How will Ar Mageddon / WW III End?

What on EARTH is going on in Acts 16:11? New Discovery!

2023 Hottest in over 120 Million Years

2024 and beyond in prophecy

Questions

This Speech Just Broke the Internet

This AMAZING Math Formula Will Teach You About God!

The GOSPEL of the ALIENS | Fallen Angels | Giants | Anunnaki

The IMAGE of the BEAST Revealed (REV 13) - WARNING: Not for Everyone

WEF Calls for AI to Replace Voters: ‘Why Do We Need Elections?’

The OCCULT Burger king EXPOSED

PANERA BREAD Antichrist message EXPOSED

The OCCULT Cheesecake Factory EXPOSED

Satanist And Witches Encounter The Cross

History and Beliefs of the Waldensians

Rome’s Persecution of the Bible

Evolutionists, You’ve Been Caught Lying About Fossils

Raw Streets of NYC Migrant Crisis that they don't show on Tv

Meet DarkBERT - AI Model Trained On DARK WEB

[NEW!] Jaw-dropping 666 Discovery Utterly Proves the King James Bible is God's Preserved Word

ALERT!!! THE MOST IMPORTANT INFORMATION WILL SOON BE POSTED HERE


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: US incomes fall for first time in nearly 2 years
Source: PMSNBC
URL Source: http://money.msn.com/business-news/ ... d=AP&date=20110930&id=14331482
Published: Sep 30, 2011
Author: Martin Crutsinger
Post Date: 2011-09-30 12:12:40 by Sebastian
Keywords: None
Views: 222

Americans earned less last month, the first decline in nearly two years. With less income, consumers could cut back on spending and weaken an already-fragile economy.

Consumers spent a little more in August despite seeing their incomes drop 0.1 percent, the Commerce Department said Friday. Consumer spending rose just 0.2 percent, after a more robust 0.7 percent gain in July.

Many tapped savings to cover the steeper costs. And most of the increase in spending went to pay higher prices for food and gas. When adjusted for inflation, August consumer spending was flat.

Stocks fell after the report's release. The Dow Jones industrial average fell more than 100 points in the first half-hour of trading.

The data offered "more evidence that households are in quite a bind," said Paul Dales, senior U.S. economist at Capital Economics.

In August, employers added no new jobs and cut hourly earnings for the first time in more than three years.

Income growth has been sluggish for most of the year. After taking inflation into account, after-tax incomes actually fell 0.3 percent in August and 0.2 percent in July. That's the first back-to-back declines in inflation-adjusted incomes since mid-2008, when the country was in the midst of the recession and financial crisis.

Even the increase in spending wasn't necessarily a good sign. Consumers spent 0.3 percent more on nondurable goods, such as food and clothing.

Gasoline prices are now roughly $3.46 per gallon. While that is higher than last year, the price is down nearly 52 cents from this year's peak price of $3.98.

Consumers spent less last month on big purchases, such as cars, appliances and furniture. Car sales fell during the month, but part of that weakness reflected supply problems stemming from the Japan crisis.

"Consumer spending is still rising, which is important for U.S. economic growth. But the gains are pretty mediocre," said Jennifer Lee, senior economist at BMO Capital Markets.

Facing higher prices and earning less money, consumers saved only 4.5 percent last month. The savings rate rose as high as 6.5 percent in late 2008, at the height of the recession and financial crisis.

Prior to the recession, Americans saved just 2 percent. An abundance of jobs and inflated home prices made many resist stowing money away.

The economy grew at an annual rate of just 0.9 percent in the first six months of the year, the slowest growth since the recession officially ended more than two years ago.

Economists expect only slightly better growth in the second half of this year. But that's based on expectations that consumers will spend more.

Some are predicting growth of around 2 percent in the second half of the year. That level of growth would ease recession fears, but it's not enough to lower the unemployment rate, which was 9.2 percent in August.

Consumer confidence stayed weak in September after the economy experienced a number of shocks this summer. Lawmakers fought over raising the nation's borrowing limit, Standard & Poor's downgraded long-term U.S. debt, the stock market fluctuated wildly and Europe's debt crisis intensified.

The Federal Reserve last week agreed to shift $400 billion of its portfolio of Treasury securities to try to drive down long-term interest rates. It was the Fed's latest unconventional move seeking to give the economy a boost.

Post Comment   Private Reply   Ignore Thread  


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com