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(NECN: Washington) - Roland Burris says he anticipates soon being accepted to take Barack Obama's Senate seat. Senate Democratic leaders are changing course, saying they may be willing to seat Illinois Senate appointee Roland Burris after all...
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(NECN: Brad Puffer, New Bedford, Mass.) - Gary Gomes of New Bedford, Massachusetts, accused in the deaths of two women found in a city apartment, appeared in court today. Police say the landlord's son found the bodies yesterday after entering the...
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(NECN: Lauren Collins, Manchester, NH) - New Hampshire saw its fair share of storm problems last month. While it is more of a snow event to the north today, the southern part of the Granite State is seeing a messy mix. Right now it is sleeting in...
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Breaking News          [ 8 min ago ]
BC fires Jagodzinski fired after meeting with Jets
BOSTON (AP) - Boston College has fired Jeff Jagodzinski after he interviewed for the New York Jets coaching......read more
 
August 29, 2008
July incomes drop by largest amount in 3 years

WASHINGTON (AP) - Personal incomes plunged in July while consumer spending slowed significantly as the impact of billions of dollars in government rebate checks began to wane.

The Commerce Department says personal incomes fell by 0.7 percent in July, the biggest drop in nearly three years and a far larger decline than the 0.1 percent decrease analysts expected.

Consumer spending edged up a modest 0.2 percent, in line with expectations, but far below June's 0.6 percent rise. When the impact of rising prices was factored in, spending actually dropped by 0.4 percent in July, the weakest showing for inflation-adjusted spending in more than four years.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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