Bloomberg (03/28/14) Victoria Stilwell
The economy is gaining traction and consumer spending increased in February by the most in three months as incomes rose, Americans began to recover from an unusually brutal winter, and the job market showed signs of improvement. Household purchases rose 0.3% following a 0.2% increase in January that was smaller than previously thought, according to the U.S. Department of Commerce. Bloomberg economists had forecast a 0.3% increase.
Spending on durable goods rose 0.1% after adjusting for inflation following a 0.4% decline in January. Spending on nondurable goods rose 0.3%.