Consumer Spending Rises for Eighth Straight Month

Consumer spending rose 0.7 percent in February, the Commerce
Dept. announced
March 28.

This marks a significant increase from the 0.3 percent
growth recorded in January, and stands as the eighth straight month consumer
spending has risen.

“Going forward, we hope to see even stronger growth in
consumer spending as the economy expands,” U.S. Commerce Department chief economist
Mark Doms said in a statement.

Additionally, personal income figures for both December and
January were revised upward.

“The good news in today’s report is that wages and salaries—an
important and large component of personal income—are strong and rising,” Doms
added.

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