American increased their spending more slowly in March, suggesting some are worried their paychecks aren't growing quickly enough. Consumer spending increased .3% in March.
Real incomes need to grow at a faster rate to prevent consumption growth from slowing down. The overall economy grew at an annual rate of 2.2% in the January-March quarter, down 3% from the October-December 2011 period. The weakness reflected government budget-cutting and weaker business investment.
Martin Crutsinger, Associated Press, The Boston Globe, May 1, 2012
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