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Americans' personal income dips 7% in Feb as effect of stimulus cheques fades

Another set of data shows manufacturing continuing with momentum despite higher costs

Published Sat, Mar 27, 2021 · 05:50 AM

Washington

US personal income plunged 7.1 per cent in February as the effect of stimulus cheques approved late last year faded, the Commerce Department said on Friday.

The data was in line with analysts expectations, but nonetheless a significant change from the upwardly revised 10.1 per cent income growth in January, when consumers were receiving cheques intended to encourage spending amid the pandemic downturn.

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