Incomes Down, Spending Up in August

Washington, DC, Sept. 30, 2011 -- Personal incomes fell for the first time in nearly two years in August, according to the Commerce Department, even as consumers continued to spend.

The Commerce Department said that spending rose 0.2% after increasing 0.7% in July. When adjusted for inflation, however, spending was unchanged after rising 0.4% in July.

Income dipped 0.1%, the first decline since October 2009.