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Consumer spending up By Jeannine Aversa THE ASSOCIATED PRESS WASHINGTON — Flush with extra cash from tax cuts, America’s consumers treated themselves in August and spent with gusto, good news for the economy’s revival. The Commerce Department reported Monday that consumer spending increased by a strong 0.8 percent last month on top of an even bigger 0.9 percent advance in July as larger pay- checks and other incentives from President Bush’s third tax cut began to take hold. “Consumer spending turned in another stellar performance,” said Wachovia economist Mark Vitner. “Spending continues to be bolstered by the recently enacted tax cuts.” Americans’ disposable incomes, or what’s left after taxes, advanced by 0.9 percent in August, following a 1.5 per cent jump in July. The government attributed much of the increase in dispos able incomes in both July and August to the president's tax cut, which lowered federal tax withholdings, boosting people’s take-home pay and provided other incentives. Excluding the tax impact, disposable incomes increased by a more modest 0.3 percent in July and 0.2 percent in August. Consumer spending accounts Personal spending Here is a look at the nation’s personal spending. Seasonally adjusted $7.8 trillion I Change from I I previous month I August 0.8% 6.4 I 1-1- July 0.9% I June 0.7% SONDJFMAMJ JA 2002 2003 SOURCE: Department of Commerce AP for roughly two-thirds of all economic activity in the United States. Because of that, the behavior of shoppers is a major factor in shaping the economy’s recovery. Many analysts believe the economy is growing at a rate in excess of 5 percent in the cur rent quarter and should maintain growth above 4 percent in the Final three months of the year. That forecast, if it proves to be correct, would represent the strongest back-to-back growth rates since the last two quarters of 1999. Still, analysts caution that they have predicted second-half eco nomic rebounds for three years that have failed to happen as con sumers and companies grew cau tious — concerned about their own financial situations as well as the economy’s future. Thus far, those positive fac tors are helping to offset the negative impact of a sluggish job market. In August, business es slashed jobs for the seventh month in a row. And, more recently, claims for unemploy ment benefits have remained stubbornly high. Consumer spending on “durable” goods — costly man ufactured products such as cars and appliances, went up by 2.8 percent in August, following a 3.3 percent increase in July. Spending on “nondurables” such as food and clothes, rose by 0.9 percent for the second straight month. For services, spending increased by 0.3 percent in August, after a 0.5 percent gain. Because disposable income growth outpaced spending, the nation’s personal savings rate, or savings as a percentage of after tax incomes, rose to 3.8 percent in August from 3.6 percent in July. August’s saving rate marked the best showing since February. Amid signs that the economy is picking up speed, the Federal Reserve earlier this month decided to hold a key short-term interest rate at a 45-year low of 1 percent and hinted that the rate could stay there for some time. NEWS IN BRIEF Mail-order drugs found to violate law WASHINGTON (AP) — Nearly 90 percent of the imported mail-order drugs stopped at the borders in a special crackdown by govern ment agents were potentially dangerous, the Food and Drug Administration said Monday. Of 1,153 imported drugs col lected by FDA and Customs agents, 1,119 were illegal. They included drugs that have been withdrawn from the U.S. market, animal drugs never approved for humans, coun terfeit drugs, drugs with dan gerous interactions and nar cotics, officials said. The drugs were collected at international mail arrival cen ters in New York, Miami, San Francisco and Carson, Calif. Imported drugs have become a hot political issue in recent years with many Americans seeking lower-cost products from foreign sources. Buying drugs from Canada is particu larly popular because U.S.-pro duced drugs cost less there. V. islAM A\VAROJCA5\VtEic SqkobffZWdfaA World of Islam Cultural Display & Buffet Monday, Sept 29 MSC 22611 a.m.-3 p.m. jdkL. Deeper Roots: History of Muslims in America Lecture by Dr. Ihsan Bagby Tuesday, Sept 30 MSC 226 7:30 p.m. Women in Islam: Oppression or Empowerment? Lecture by Fatimah Bhutan Wednesday, October 1 ZACH102 7:30 p.m. 'miMim' ' -liflilsw W Muhammad: Man & Myth Lecture by Mutahhir Sabree Thursday, Oct 2 MSC 226 7:30 pm. :; tr Mosque Open House Saturday, Oct 4 417StasneySt 10am-4pm Muslim students’ Association http//nMtamaJu Attention /V11 Students: General Academic Programs is moving! New location is in the former General Academics is the home office of approximately 3,500 Aggies in General Studies, Aggie Access, Blinn Team, Gateway, and Reload. MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY 1 LARGE 1-TOPPING $5 99 *** pu/only 2 LARGE 1-TOPPING $12" * pu/delivcry 1 EX-LARGE 2-TOPPING 1 10. 50 " w • pu/delivery I LARGE 2-TOPPING & 2 liter drink $| | 99 1 • pu/delivery PICKYOUR SIDE LARGE 2 TOPPING AND 1 SIDE $|7 78 1 Ah# pu/delivery FAMILY SPECIAL 1 LARGE SPECIALTY 1 LARGE 2 TOPPING $ I6.” ANY LARGE SPECIALTY HI.” Northgate 601 University Dr. 979-846-3600 Post Oak Square Center 100 Harvey Rd., Suite D 979-764-7272 Rock Prairie 1700 Rock Prairie 979-680-0508 OPEN LATE Sunday: 1 1 a.ran. - midnight Monday - Wednesday: 11 a.ran. - 1 a.m. Thursday: 11 a.an. - 2 a.rara. Friday & Saturday: 11 a.nra. - 3 a.rara. OPEN LATE Career Advising- All Majors Internship Listings Job Search Workshops Resume Reviews Career Research Library -JCareer Center Texas A&M University With you every step of the way http://careercenter.tainii.edu 209 Koldus 845-5139