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Consumer Spending Jumps 1.3 Percent in August
“Cash for Clunkers” again helped to raise consumer spending in August, according to data released last week by the U.S. Bureau of Economic Analysis. The federal CARS program, which ran from July through Aug. 24, 2009, helped boost new car and truck sales to grow consumer spending by 1.3 percent overall. This marks the largest increase since Oct 2001 and a substantial gain over July’s revised 0.3 percent uptick.