Incomes are rising, but Americans are spending less. According to a new report from the Commerce Department, disposable income has risen 0.4% in the last month, and consumer spending rose 0.3%. Over the first quarter, spending rose 2.9%, mainly on non-durable goods. Last month, the savings rate increased to 3.8%, a sign economists say means consumers are stroll cautious about an economic recovery.
See "Personal incomes rise as Americans save more and spend slowly", Tiffany Hsu, Los Angeles Times, April 29, 2012