Consumer Spending Increases in August
Washington, DC, Sept. 28, 2012 -- Consumer spending rose in August even though incomes barely grew, according to the Commerce Department.
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Much of the spending increase resulted from higher gas prices.
The government said that consumer spending rose 0.5% in August from July. It was the biggest jump since February.
Spending on durable goods rose 0.3%, helped by gains in auto sales. Spending on services rose 0.2%.
Income rose 0.1% in August.