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Statement from Under Secretary Blank on August 2009 Personal Income and Outlays

Washington (Oct. 1)—The U.S. Commerce Department’s Bureau of Economic Analysis released personal income and outlays for August 2009. Personal income rose 0.2 percent, real personal consumption expenditures jumped 0.9 percent, and real disposable personal income decreased 0.2 percent. “The recent growth in consumer spending along with the gains in housing activity, exports and industrial production suggest that the economy is beginning to expand after contracting in four consecutive quarters,” U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank said. (More) (Release)