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US consumer spending up 0.2 percent in January

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WASHINGTON (AP) — U.S. consumers increased spending modestly in January but cut back on major purchases that signal confidence in the economy. The decline in spending on goods suggests higher tax rates that kicked in on Jan. 1 may have made consumers more cautious. The Commerce Department said Friday that consumer spending rose 0.2 percent in January compared with December. The gain was driven...

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