Consumer spending slid unexpectedly in January as shoppers took home fewer durable goods, the government said Monday.
The Commerce Department said consumer spending dipped 0.1 percent, its first drop since September of last year, after a gain of 1.0 percent in December. Personal incomes in January rose by 0.3 percent.
Wall Street analysts had expected spending to post a 0.1 percent gain in January, while incomes had been expected to post a 0.4 percent increase in the month.