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Stagnant Incomes May Dampen Recovery
Personal incomes barely budged in January, but that
didn’t stop consumers from spending. The Commerce Department
reported that personal incomes grew 0.1% in January, while
personal spending jumped 0.5%. The income gain was the
weakest showing in four months and raised concerns about
whether consumers will be able to continue spending at a
rate that can support an economic recovery. If incomes
remain stagnant, spending will likely wane since many
Americans are not willing or able to borrow in order to
spend.
Private wages and salaries were up by $16.1 billion at an
annual rate, compared to a $2.3 billion gain in December,
the government reported. However, households did not get the
usual boost from the government's annual cost-of-living
adjustment for Social Security and other benefits. The 50
million recipients of Social Security saw no gain at all in
January because of low inflation, the first time that has
occurred in more than three decades. Moreover, after-tax
incomes actually fell 0.4% in January, the biggest monthly
decline since last July. With after-tax incomes falling as
spending increased, the personal savings rate dipped to 3.3%
in January, down from 4.2% in December.
Return to:
Credit, Economy and Business Finance News
Date Last Updated: 03/03/2010
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Charter Capital services many industries. Here are just a few of the industries for which we are currently providing business financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get financing with Freight Factoring from Charter Capital. We purchase your Freight Invoices
and fund you within 24 hours, so you don't have to wait to get paid.
Staffing Firms
We can help you grow your staffing business with unlimited payroll funding, whether you're a start up or a multi-million dollar temp-staffing agency. Our clients provide staffing for various industries including Professional, Office Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared to gain your share with a FactorLine business financing facility only from Charter Capital.
Manufacturing
If your business is a manufacturing plant, distributor, packaging company, or any business that invoices to credit worthy customers, then a FactorLine financing facility from Charter Capital can accommodate the working capital funding needs of both new
manufacturing businesses as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology consulting businesses and staffing firms are great candidates for our FactorLine accounts receivable financing service, enabling you to increase your cash flow without the need for bank loans. We are always adding new industries and will consider factoring service providers in any industry.
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