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Consumer spending slows slightly

People on an escalator holding shopping bags.
Photo: Oli Scarff/Getty Images

U.S. consumer spending in August rose at the slowest pace since February, according to new data released by the Commerce Department on Friday.

Why it matters: While economists were expecting spending to tick slightly higher, the pace of consumer spending has been strong in the past few months. Another data point released on Friday, personal income, rose — a signal that consumers have more money in their pockets.