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INCOME UP, SPENDING STEADY

Personal income edged up 0.3 percent in May for the second straight month, but personal spending was unchanged from the previous month, the government said today in another sign of consumer caution.

Consumer spending is considered a barometer of economic health since it accounts for about two-thirds of the nation's economic activity.

The Commerce Department reported that incomes totaled a seasonally adjusted annual rate of $4.70 trillion.

Consumer spending remained unchanged at a seasonally adjusted annual rate of $3.66 trillion after seven straight months of gains, including 0.5 percent in April and 0.3 percent in March.

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