Spending slowed in December


Published Feb 1, 2013 at 04:00AM / Updated Nov 19, 2013 at 12:31AM

U.S. consumers increased their spending in December at a slower pace, while their income grew by the largest amount in eight years. Income surged because companies rushed to pay dividends before income taxes increased on high-earners.

The Commerce Department said Thursday that consumer spending rose 0.2 percent last month. That’s slightly slower than the 0.4 percent increase in November.