- Pedestrian killed during traffic collision on I-55 (10/21/16)4
- Scott County Sheriff Rick Walter faces challenge from criminal investigator Wes Drury (10/21/16)8
- Shooting injures two people in Cape early Tuesday (10/19/16)34
- 18-year-old killed in one-car crash Thursday morning (10/21/16)1
- Man arrested after dispute at school spurs brief lockdown (10/21/16)6
- Perry County: A great place to find home away from home (10/14/16)
- 'I feel for them' (10/20/16)1
- Tours provide a glimpse of Cape Girardeau's supposedly haunted past (10/17/16)1
- Benton man accused of statutory rape, selling pot (10/20/16)1
- Crews are working on the new Drury Hotel (10/21/16)1
May incomes surge, but savings outpace spending
WASHINGTON -- Households pushed their savings rate to the highest level in more than 15 years in May as a big boost in incomes from the government's stimulus program was devoted more to bolstering nest eggs than increased spending.
The Commerce Department says consumer spending rose 0.3 percent in May, in line with expectations. But incomes jumped 1.4 percent, the biggest gain in a year and easily outpacing the 0.3 percent gain that economists expected.
The savings rate, which was hovering near zero in early 2008, surged to 6.9 percent, the highest level since December 1993.