U.S. incomes, spending rose to start 2019 -- but at slower rate

March 29 (UPI) -- Americans' income last month rebounded from a dip in January and climbed by 0.2 percent, the U.S. Commerce Department said Friday in its monthly report.

The figures cover February and January, when no report was issued because of the federal shutdown.

In January, personal income fell $22.9 billion (0.1 percent) and disposable income was down $35 billion (0.2 percent), the figures showed. Consumer spending for the month rose 0.1 percent after a revised 0.6 percent drop in December, which was the greatest decline since the Great Recession a decade earlier.

More people spent money on financial services and insurance while new vehicle sales took a hit, the report said.

In February, personal income jumped $42 billion and disposable income rose $31 billion. The report also showed wages increased 0.3 percent for the month. Much of the increase was reflected in those higher wages, government benefits and business income. It was partially offset by a decrease in personal interest income.

The figures reflect an economy that slowed at the start of 2019 than analysts first thought.

Consumer spending, local government spending and nonresidential fixed investment all missed projections and were revised down.