Income up, spending growth slows
Published: March 28, 2008 at 11:18 AM
WASHINGTON, March 28 (UPI) -- Personal income rose in February and inflation stalled but spending increased slowly in the United States, the Bureau of Economic Analysis said Friday.
Personal income increased 0.5 percent, or $56 billion, in the month, while consumption expenditures gained $12 billion, a 0.1 percent rise, the report said.
Analysts had expected a 0.3 percent rise in income and a 0.1 rise in spending.
Disposable income rose 0.5 percent, or $48.7 billion, the bureau reported.
Government wages and salaries increased $5.8 billion in the month, about half the increase of $10.7 billion recorded in January. Private wages increased $14.8 billion in February, also a decline from January, when the increase recorded was $21.9 billion.
Personal income increased 0.5 percent, or $56 billion, in the month, while consumption expenditures gained $12 billion, a 0.1 percent rise, the report said.
Analysts had expected a 0.3 percent rise in income and a 0.1 rise in spending.
Disposable income rose 0.5 percent, or $48.7 billion, the bureau reported.
Government wages and salaries increased $5.8 billion in the month, about half the increase of $10.7 billion recorded in January. Private wages increased $14.8 billion in February, also a decline from January, when the increase recorded was $21.9 billion.
© 2008 United Press International. All Rights Reserved.
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This material may not be reproduced, redistributed, or manipulated in any form.
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