Americans spent more in June, despite income drop (AP)

August 5th, 2009 | by |

In this July 31, 2009 photo, customers pay for their purchases at the check out counter of the new JC Penney store in the Manhattan Mall during the grand opening in New York. Consumers opened their wallets and pocketbooks a bit more in June, increasing their spending for the second straight month while saving a bit less, even as incomes fell sharply. (AP Photo/Mary Altaffer)AP – As gasoline prices rose, Americans spent more in June than the previous month — despite falling incomes. For the rest of the year, economists expect falling wages and rising unemployment to act as a drag on spending.

Source:Americans spent more in June, despite income drop
(AP)

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