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Spending drops for first time in almost two years

Spending by Americans fell for the first time in 20 months, according to a report by the U.S. Commerce Department on Aug. 2.

Consumer spending fell 0.2 percent in June, the first negative growth since September 2009. Incomes also rose by just 0.1 percent, which is the weakest growth since last September.

You can read the entire story on the report by clicking here.

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