Consumer spending rose 0.7 percent and incomes were up 1.1 percent in February, the U.S. Commerce Department said Friday. Personal spending rose by $77.2 billion, with help from a $143.2 billion boost in incomes.
Disposable incomes increased by $127.8 billion, or 1.1 percent, the department said.
The figures represent a turnaround for workers, who had incomes drop by 3.7 percent and disposable incomes slide 4 percent in January.
Wages regained almost to the dollar what had been lost in January. The $42.7 billion drop in wages in January turned to a $42.4 billion gain in wages and salary disbursements in February.
Personal savings in February totaled $310.9 billion, up from $262.5 billion in January. The savings rate -- personal savings as a percentage of disposable income -- rose to 2.6 percent in February from 2.2 percent in the previous month.
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- Apple Stock Bounces Back Big Time
- Is Diversity in the Eye of the Beholder?
- Investors Betting on ECB Stimulus Measures
- 'Mythbusters' Build Team Gets the Boot
- Jennifer Lopez Would Marry Again
- Hackers Get Homeland Security Employee Records
- Florida Judge Rules in Favor of GOP Voter Map
- Mo'Ne Davis a Big Winner Despite Loss
- Advocacy Group Calls for Chrysler Probe