U.S. Consumer Spending Up Again

March 27, 2009
However personal income contracted 0.2% in February.

For the second consecutive month in February, consumer spending rose, the Commerce Department said on March 27.

Personal consumption expenditures increased $17.2 billion, or 0.2%, from January, in line with analysts expectations.

Expenditures had risen $94.8 billion, or 1%, in January based on revised estimates.

Consumer spending is a key barometer of the U.S. economy facing prolonged recession after a housing mortgage crisis sparked financial turmoil across the globe and caused a severe economic downturn.

The report showed that personal income contracted 0.2% in February, slightly weaker than expected by analysts. In January, personal income had increased by 0.2%.

Personal income, which tracks income from all sources, is the largest component of total income is wages and salaries estimated using payrolls and earnings data.

Copyright Agence France-Presse, 2009

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!