US consumer data healthy
- Published: 29 Mar 2013 at 20.25
- Online news:
WASHINGTON — US consumers earned more and spent more in February, helped by a stronger job market that has offset some of the drag from higher taxes.
The Commerce Department said on Friday that consumer spending rose 0.7% in February from January. It was the biggest gain in five months and followed a revised 0.4% rise in January, which was double the initial estimate.
Americans were able to spend more because their incomes rose 1.1% last month. That followed January's 3.7% plunge and December's 2.6% surge. The huge swings reflected a rush to pay bonuses and dividends in December before taxes increased.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.