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Article: nation.(Front)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- October 31, 2009
CopyrightCOPYRIGHT 2009 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Flat incomes raise economic concerns
WASHINGTON | Flat incomes suggest more weakness ahead in consumer spending, reinforcing concerns about a ho-hum holiday shopping season and a sluggish economic recovery.
Concerns about the economy sparked by disappointing government data on spending and incomes sent stocks down Friday, erasing the previous day's big gains. The Dow Jones industrial average lost about 250 points, and broader indexes also fell. The Commerce Department reported that personal incomes were stagnant in September while the important wage and salary category dropped 0.2 percent, as unemployment rose.
Consumer spending dropped 0.5 ...