Sept. consumer spending weak while incomes dip

Americans slowed their spending in September to the weakest pace in three months and their incomes fell for the first time in 14 months.

The Commerce Department says personal spending rose at an annual rate of 0.2 percent in September. That’s below the 0.5 percent gains recorded in July and August. Incomes actually fell 0.1 percent in September, following a 0.4 percent rise in August that had been pushed higher by the return of extended unemployment benefits.

The weak growth in spending and incomes underscored how fragile the economy remains. Consumers facing high unemployment remain reluctant to spend.