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Consumer spending increased in January due to stimulus checks

spending

(CNN/WKOW) -- Americans spent more money in January thanks to stimulus checks.

According to the Bureau of Economic Analysis, consumer spending increased by 2.4 percent last month. It's the biggest jump since June. Incomes rose 10 percent in January, the biggest increase since April of last year. The bureau reported the findings on Friday.

However, spending rose slightly less than economists predicted and are still below pre-pandemic levels.

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Jessica Porter

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