U.S. personal income fell for the first time in more than three years in January...
WASHINGTON - U.S. personal income fell for the first time in more than three years in January as dividends and interest payments dropped, pointing to moderate growth in consumer spending after it fell by the most since 2009 in December.
Personal income slipped 0.1 percent in January, the first decline since November 2015, after jumping 1.0 percent in December. Income was weighed down by decreases in dividend, farm proprietors’ and interest income. Wages increased by a moderate 0.3 percent in January after rising 0.5 percent in December.
When adjusted for inflation, consumer spending fell 0.6 percent in December, also the largest drop since September 2009, after rising 0.5 percent in November. The economy is losing momentum as the boost from a $1.5 trillion tax cut package and increased government spending fades.
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