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
Destroyers with ballistic missile defense capability heading to Japan Destroyers with ballistic missile defense capability heading to Japan
2
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
3
Little girls drop F-bombs for feminism in new FCKH8 video Little girls drop F-bombs for feminism in new FCKH8 video
4
Texas plant converts CO2 to baking soda Texas plant converts CO2 to baking soda
5
Warren Buffett loses $2 billion in 2 days on investments Warren Buffett loses $2 billion in 2 days on investments
Trending News
Around the Web
x
Feedback