Incomes Rose in March at Fastest Pace in 3 Months

[jayfish]

http://www.nytimes.com/aponline/business/AP-Economy.html?ex=1115438400&en=0554712bbcae6f44&ei=5043&partner=EXCITE

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When inflation was taken into account, spending in March rose a more modest 0.1 percent following a 0.4 percent increase in February. That sharp difference was explained in part by the fact that energy prices surged during the month, forcing consumers to spend more at the gasoline pump and leaving them with less to spend elsewhere.

While incomes were up 0.5 percent, disposable incomes, the amount left after paying taxes, also showed a 0.5 percent gain in March. However, that increase was wiped out when inflation was taken into account to show no gain in inflation-adjusted disposable incomes in March following a small 0.1 percent increase in February.

Personal savings, represented as a percentage of disposable income, dropped to 0.4 percent in March, the lowest level for savings since a negative 0.2 percent savings rate in October 2001.

The government reported on Thursday that overall economic growth slowed to 3.1 percent in the first three months of this year, the weakest showing in two years, as consumers and businesses were jolted by higher energy costs.
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I love it, trumpet the one sliver of "good news" and bury the real story at the end of the article. Typical Bushista media.