OTHER NEWS - Aug. 20, 1996

Spending by Blacks Rebounds, Survey Finds: The buying power of African Americans increased sharply last year, helping black households outpace white households on spending for cars, children’s clothing and perishable foods, according to a study. The shift highlights black consumers’ increasing importance to the U.S. economy, said Ken Smikle, editor of the study conducted by the research firm Target Market News Inc., which specializes in analyzing the black consumer market. Personal income for blacks rose to $324 billion in 1995 from $304.5 billion a year earlier, the Chicago-based research firm estimated. Black households spent $10.8 billion last year on new cars and trucks, a 156% increase over $4.1 billion a year earlier, the study found. White households spent just 9% more on new cars in 1995 over 1994.