Newspaper article THE JOURNAL RECORD


Newspaper article THE JOURNAL RECORD


Article excerpt

Personal Income Increases 1% WASHINGTON - Americans' personal income increased a strong 1 percent in February while spending rose at half that pace, as people diverted more of their earnings into savings, the government reported Friday.

The Commerce Department said income rose to a seasonally adjusted annual rate of $4.32 trillion last month, following a robust revised gain of 1.7 percent in January.

Consumer spending, meanwhile, rose 0.5 percent to a seasonally adjusted annual rate of $3.38 trillion in February after increasing a revised 0.4 percent in January.

Most of the gain in personal consumption expenditures, which include virtually all consumer spending except interest payments on debt, came in increased spending for services. Analysts said that was partly a reflection of an upturn in heating bills last month after January's mild weather.

Spending on services rose 1 percent last month, while purchases of non-durable goods edged up 0.1 percent and spending on durable goods declined 0.3 percent, held back in part by slow car sales.

Continental Strike Ends HOUSTON - Striking flight attendants Friday ended their walkout against Continental Airlines, saying their protests had accomplished the union's goal of publicizing its grievances. The five-day walkout had had little effect on service.

The airline, which has a largely ununionized work force since Texas Air Corp. head Frank Lorenzo took Continental into bankruptcy proceedings in 1983, aid that only a few attendants had taken part and that they had lost their jobs but have the right to fill future job openings.

At Continental, officials said 180 attendants refused to report for work during the job action and were replaced. The union said all week that the number of strike participants was more like 1,000, and claimed that some flights were canceled, but offered no proof. …

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