facebook
twitter
rss
account
search
search
 

U.S. consumer spending rose in February

March 29, 2013 at 9:22 AM   |   Comments

WASHINGTON, March 29 (UPI) -- 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.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
New Navy sub ready for outfitting, testing New Navy sub ready for outfitting, testing
3
No means yes for Scotland, energy companies say No means yes for Scotland, energy companies say
4
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
5
Exxon grabs more Permian shale Exxon grabs more Permian shale
Trending News
Video
x
Feedback