Cautious Americans spend 0.1 per cent more in February

Consumer spending drivers two-thirds of US economic activity

29th March, 2016
US monetary policy makers are divided on quite when and by how much to raise rates, given the hard-to-read signals from US consumers

Personal spending barely increased in February and the prior month’s advance was revised down as Americans saved more of their incomes.

Spending on goods and services climbed 0.1 per cent for a third month in February, Commerce Department figures showed yesterday. January outlays were revised from a previously reported 0.5 per cent gain. Incomes rose 0.2 percent, pushing the saving rate to a one-year high.

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