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Consumer Spending Falls 0.3 Percent in USA

Overall consumer spending  in USA dropped 0.3 percent in September compared to the month before, while disposable income -- the money left after taxes -- barely crept ahead of inflation, increasing by 0.1 percent. A drop in spending on big ticket consumer items, particularly automobiles and parts, accounted for much of the decline in overall spending, with a drop of 2.9 percent in September compared to the month before. Consumers shied away from big ticket items in September, as wages remained basically stagnant and households began to tuck more money into savings -- further evidence of a pullback by American households.

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