News Column

US Consumer Spending Rose in February

March 29, 2013
Consumer

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.


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Source: Copyright United Press International 2013


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