U.S. Consumer Spending Plunges, Jobless Benefits Boost Incomes

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Household outlays fell 13.6% from the prior month, the sharpest drop in Commerce Department records back to 1959, data showed Friday. The median estimate in a Bloomberg survey of economists called for a 12.8% decline.

Incomes posted a 10.5% increase, contrasting with estimates for a decline, as federal economic-recovery payments were distributed, the report said.