Tue, 31 Jul 2012 18:20:53 GMT
Personal income in the U.S. jumped in June
According to the
Commerce Department, consumer spending in the U.S. was flat in June, while personal
income and wages both added 0.5 per cent. The growth of income and wages had
direct impact on savings, which rose to 4.4%, the highest level in this
year. The main reason why the world's biggest economy expanded only by 1.5 per
cent in the second quarter, was weak